Tech stocks look tough on Tuesday after a selloff greeted investors to start the week.
The Nasdaq Composite COMP, -2.46% – up 40% over the past 12 months – plunged 2.5% on Monday amid concerns that rising bond yields could make those tech stocks look expensive. When so-called “risk-free” yields are rising, it is much more difficult to justify equity valuations that seem high.
The key lowest technicians in the premarket market is electric car maker Tesla TSLA, -8.55%, down 6% after a drop of about 8% on Monday. Here comes our call of the day from Saxo Bank’s head of equity strategy, Peter Garnry, who was …
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