Wednesday’s FAAMG-led sell-off was no blip, tech bears say

For weeks, warnings that elevated tech-stock valuations could cause a violent selloff bubbled beneath the surface. On Wednesday, they looked prescient. U.S. stocks tumbled the most since June with rising virus cases threatening the economic recovery. More than $2 trillion has been wiped from the value of American equities this week and Wall Street’s fear gauge spiked to the highest…
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