High Beta Tech Stocks Suffer in Declining Market
Tweet
Share
E-mail
Technology Select Sector SPDR (NYSE: XLK) is trading lower today. Tech stocks are getting bruised by macro fears resonating from the crisis in Europe. Today's summit of European leaders is shaping up to be a waste of time, as disagreements mount over support for euro-bonds. Tech stocks are especially sensitive to these types of fears because they usually trade at higher multiples and have higher beta than stocks in the S&P 500.
Shares of Apple (Nasdaq: AAPL) are trading lower by over 1 percent intraday on Thursday. Other tech stocks are also feeling the pain, including Cisco Systems, Inc. (Nasdaq: CSCO). CSCO is trading lower by 2.5 percent largely due to macro fears out of Europe. XLK is lower by 1.6 percent intraday on Thursday.
Shares of Apple (Nasdaq: AAPL) are trading lower by over 1 percent intraday on Thursday. Other tech stocks are also feeling the pain, including Cisco Systems, Inc. (Nasdaq: CSCO). CSCO is trading lower by 2.5 percent largely due to macro fears out of Europe. XLK is lower by 1.6 percent intraday on Thursday.
Create E-mail Alert Related Categories
ETFsRelated Entities
Standard & Poor'sSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
