US Indexes are lower amid a rotation out of tech stocks.
Portfolio Pulse from Benzinga Newsdesk
US Indexes are lower amid a rotation out of tech stocks.
July 17, 2024 | 7:06 pm
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NEGATIVE IMPACT
The iShares Russell 2000 ETF (IWM) may see a short-term impact as investors rotate out of tech stocks, potentially affecting the broader market.
As investors move away from tech stocks, broader market ETFs like IWM could see increased volatility and potential declines.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
NEGATIVE IMPACT
The SPDR S&P 500 ETF (SPY) is likely to be impacted in the short term due to a rotation out of tech stocks, which are a significant component of the S&P 500.
Tech stocks make up a large portion of the S&P 500. A rotation out of tech could lead to short-term declines in SPY.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 70