The blistering rallies in the world’s biggest tech companies this year pushed markets higher, but have sparked concerns about stretched valuations. — Bloomberg
NEW YORK: Rattled investors are bracing for earnings from the market’s biggest tech companies, a Federal Reserve policy meeting and closely watched employment data in a week that could determine the near-term trajectory of US stocks following a bout of severe turbulence.
A months-long rally in massive tech stocks hit a wall in the second half of July, culminating in a selloff that saw the S&P 500 and Nasdaq Composite Index notch their biggest one-day losses since 2022 on Wednesday after disappointing earnings from Tesla and Google-parent Alphabet.
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