Despite Gains In Other Sectors, Tech Stocks Sink
On Monday Tech stocks took a beating, after the US Senate passed their version of a tax overhaul, known as the The Tax Cuts and Jobs Act. The decline in tech mirrored a rise in financials, as many of the major Wall Street firms were trading higher on Monday, as other financial sectors received a boost from tax reform passing in the Senate. Many investors diverted funds to other areas, away from the tech-heavy Nasdaq 100, which suffered a decrease of 0.60%, even as the S&P 500 was trading at record highs, up 0.50%.
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