It's all relative. Banks, Tourism operators, Airlines and other sectors were considered a very bad investment yesterday. Overnight they've become desirable again. So tech and ecommerce stocks which have benefitted from COVID-19 and been on a tear have, overnight, become less desirable.
Hence the rotation from tech to cyclicals/value stocks. Today was always going to be extremely painful for tech stocks (most of my portfolio).
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It's all relative. Banks, Tourism operators, Airlines and other...
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