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3 days

Tech Stocks Extend Decline, Dragging Indexes Further From Records

1. Technology stocks sold off for two consecutive days, impacting major indexes. 2. S&P 500 experienced a 0.2% decline, marking a fourth straight loss. 3. Investors expressed concern over valuation levels in tech stocks amid strong growth expectations. 4. Lowe's shares rose after increasing its annual outlook, while Target's shares fell. 5. Seven out of eleven S&P 500 sectors showed gains despite tech's decline.

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FAQ

Why Bearish?

The ongoing selloff in tech stocks is notable for the S&P 500; historical instances show tech corrections often lead to broader market weakness.

How important is it?

Market movements from tech stocks significantly impact the S&P 500 due to its composition.

Why Short Term?

The current market sentiment shows quick shifts, particularly in tech; similar volatility occurred in 2020 following initial tech corrections.

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