Tech stock crash2/12/2024 "In the crash of 1999, 2000, 2001, you had internet companies with no revenues, obviously no earnings. However, billionaire investor and co-founder of private equity firm Carlyle Group David Rubenstein said Monday that the markets have been "overreacting" despite the Fed's efforts to manage expectations. Federal Reserve has said it will not hesitate to keep hiking interest rates until inflation comes down towards a healthy level, and its hawkish pivot in the face of stark global price increases has, in part, driven the exodus from tech stocks. "A lot of companies probably will disappear, but we should not think that the fundamental trends will still remain, that technology and digitization will be important, new business models – these are the key themes that as business leaders, we all need to be very mindful of." A 'remarkably orderly' sell-off "The valuation levels have come down, basically, in all stock markets, but the profits are still there of the companies, so we see a little bit of a shake out that is happening," Lehmann said, noting that while there were similarities to the dotcom bubble, the underlying trends are now more supportive. His comments echoed those of Credit Suisse Chairman Axel Lehmann on Monday, who told CNBC that investors should retain a long-term perspective despite the temporary "shake-out" of tech stocks, as many companies within the sector are still "solid and sound." Personal Loans for 670 Credit Score or Lower Personal Loans for 580 Credit Score or Lower Best Debt Consolidation Loans for Bad Credit
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