Tech Rout

[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 . . . .