Tech stocks are currently under a lot of pressure. Are they tearing down the entire market like they did at the turn of the millennium?
(Photo: Bloomberg)
Dusseldorf There is a sell-off mood on the stock markets. After the unexpectedly high inflation figures from the USA on Friday, prices continued to fall at the start of the week. The fear of a crash is back. The German leading index Dax continued to fall on Monday and at times fell below the 13,500 point mark. A week ago it was 1000 points more.
Technology stocks in particular are under pressure worldwide. The US tech index Nasdaq Composite, which lists 3,000 companies, mostly growth companies, closed last week with the biggest minus since mid-January. The annual loss is now 27 percent.
And experts see further downside potential. Jim Cramer, a former hedge fund manager turned analyst at CNBC, warns shareholders, “If your stock doesn’t have support from dividend payments and a reasonable earnings to valuation ratio — assuming there are any earnings at all — there’s no bottom right now.”
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