Interesting day in the market! The NASDAQ which is chock full of tech companies took a hit of 1.44% by end of day. This is the first real volatility we have seen in quite some time.
While tech was part of it, it seemed to be much wider spread. I would say that with the run up (Trump bump) since the election, the market has generally gotten ahead of itself and professional investors are harvesting their gains for quarter end.
I do think it portends a rockier road ahead. After all, many of the anticipated changes from the new administration had not been passed at this point. Therefore, the market is tiring in its anticipation of better growth. It will need some more concrete evidence to keep it "rocking".
On a plus note, the first quarter's GDP was revised upward but still remains at a subdued level. Stay tuned and "watch for falling rocks"!
