One of the big questions in markets is to what extent the “momentum stocks” will keep getting crushed.
Lately, erstwhile highflyers like Facebook and Twitter have been getting sold off hard and some fizz gets let out of the bottle.
As Davie Scutt notes, the performance in just the last week was ugly: LinkedIn -13% Twitter -8.8% Facebook -5.4%.
And here’s the chart for the whole year for these three.
This is the big story to watch as the market reopens.
Will the selling abate? Or is this the start of a broader bout of risk aversion that will threaten overall markets, which remain very close to all-time highs.