Market Dynamics: Tech Stocks Slide as Small-Caps Surge Amid Fed Expectations
Tech and chip stocks like Apple, Microsoft, and Nvidia are dragging down U.S. stock futures as investors focus on small-caps amidst anticipation of Fed rate cuts. Asian markets are mixed on Fed rate cut hopes, with Australian stocks hitting record highs.
Small-cap Russell 2000 is outperforming big tech, surging 12.27% YTD, while the S&P 500 equal-weight index is up 4.8%. A market rotation is underway as high-flying stocks slow.
Concerns about overbought markets arise, especially after Tesla's stumble. Despite potential corrections, moderate market adjustments are expected, with the Federal Reserve likely to mitigate severe damage, leaving the S&P 500 with a 5% yearly gain.
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