Tech Rout

[agstar77]

China equities soar overnight . . . China’s top financial policy body vowed to ensure stability in capital markets, support overseas stock listings, resolve risks around property developers and complete the crackdown on Big Tech "as soon as possible." In short, China vowed to make everything better again.

Translation: China's government now appears panicked over financial fallout.

China is scared of being pulled into Putins war. It's okay if it is their own war.

[bobofthenorth]

China equities soar overnight . . . China’s top financial policy body vowed to ensure stability in capital markets, support overseas stock listings, resolve risks around property developers and complete the crackdown on Big Tech "as soon as possible." In short, China vowed to make everything better again.

Translation: China's government now appears panicked over financial fallout.

The short side of the NASDAQ has been a fun place to play since early December but its getting too exciting for an old guy so I'll be on the sidelines for a while.

[errolanderson]

Getting real ugly . . . . Spotify down more than 70% from recent highs, Netflix down 60%. Tesla, Amazon capitalism drain in-progress. Smaller tech stocks down as much as 70% to 80%. This sell-down has the feel of a remake of the 2000 DOTCOM crash . . .

NASDAQ index isn't reflecting the true carnage given it reflects the heavy weights. It took 3 years for the NASDAQ to bottom after 2000 and 14 years to recover losses.

[Hamloc]

Getting real ugly . . . . Spotify down more than 70% from recent highs, Netflix down 60%. Tesla, Amazon capitalism drain in-progress. Smaller tech stocks down as much as 70% to 80%. This sell-down has the feel of a remake of the 2000 DOTCOM crash . . .

NASDAQ index isn't reflecting the true carnage given it reflects the heavy weights. It took 3 years for the NASDAQ to bottom after 2000 and 14 years to recover losses.

This combined with the 1.4% drop in first quarter GDP in the U.S. paints a somewhat gloomy economic outlook. Will this affect whether the U.S. Fed raises interest rates further?

[errolanderson]

This combined with the 1.4% drop in first quarter GDP in the U.S. paints a somewhat gloomy economic outlook. Will this affect whether the U.S. Fed raises interest rates further?

Good point . . . central bankers have now lost control artificially supporting stock markets for years in an effort to protect Wall Street. Now talking up huge rate hikes this year while consumers totally tapped out.

Not sure if it matters anymore whether they hike rates or not. Horse is way long gone out of this corral.

[sumdumguy]

You think we will revert to a real value-based economy? This the “great reset?”

[errolanderson]

Warren Buffet blasts Wall Street as a casino, Munger takes a run at Robinhood . . . knives are out as the chips fall . . . .