The “Bombshell” Reason Tech Stocks Just Suffered The Biggest Rout Since Brexit, In Two Charts

Jon Alternative Media, Blogosphere, Market Commentary

“Last week, after making new highs, the NASDAQ ‘reversed’ to the downside. It bounced from there, but yesterday’s action was horrific, for having opened sharply, violently, surprisingly higher, by the day’s end the NASDAQ was sharply, violently, surprisingly weaker and it was so even as the Dow finished higher on the day, albeit materially below its peak. This morning, as we write, the Dow futures are higher but the NASDAQ is weaker… again!” – Dennis Gartman
As we discussed in our overnight wrap, FANG stocks have tumbled 5.6% in last 5 sessions…
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… while overnight the MSCI World Tech index just suffered its biggest four-day drop since Brexit, as contagion from the tech-rout spread across the globe.

This post was published at Zero Hedge on Dec 5, 2017.