44 days ago • Posted by William Ramstein

NASDAQ composite rebounds off correction level but remains low

Tech stocks have been retreating in recent weeks as vaccination programs advance and economic data point to the recovery being under way. The Nasdaq Composite Index declined more than 2% last week, losing ground for a third consecutive week. That is because investors are betting that the largest media, communications and online-shopping companies will see a slower pace of growth as pandemic lockdowns end. Giant tech stocks including Apple, Microsoft and Alphabet fell after the opening bell. Apple, the biggest company on the S&P 500 by market value, has dropped more than 8% this year. Shares of Tesla, the electric-vehicle maker that was also a favorite among individual investors last year, slid 1.4% Monday morning. It has lost more than 15% so far in 2021. Source: WSJ