The Dow and S&P 500 are down modestly.
But the Nasdaq is down a whopping 2.2%.
This is reflective of the ongoing “internal correction” out of the once high-flying momentum stocks and into more boring, yet stable large-cap stocks.
“All I’ll say is that you’d think investors would have learned from the Tech bubble and housing bubble, but I guess they were just dying to touch the hot stove once again,” said Rich Bernstein in a recent email to Business Insider. “Now they’re getting burned.”
- Intuitive Surgical is down 5.6%.
- Amazon.com is down 3.9%.
- Netflix is down 4.4%.
- Priceline.com is down 3.2%.
- Google is down 3.4%.
- Facebook is down 2.8%.
The once-red-hot biotech sector is down 2.4%. Below is a one-month look at the iShares Biotechnology Index (IBB) and the S&P 500
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