The U.S. stock market was under pressure amid a broad global equity market sell-off. The losses come after the Nasdaq Composite fell into correction on Friday.
The market sell-off Monday was akin to a 'stampede' that investors may want to avoid, according to Macquarie. 'According to Britannica, a stampede is 'an occurrence in which a large group of frightened animals or people run together in a wild and uncontrolled way to escape from something,'' said Viktor Shvets, the firm's head of global and Asia Pacific strategy.
In this case, the 'something' was actually a number of events, including the perception that the Federal Reserve is behind the curve in cutting interest rates, concerns over a tech bubble and the potential unwind of the Yen carry trade , he wrote in a note on Monday. However, Shvets believes the U.S. can avoid a recession and that tech valuations are nowhere near bubble territory. Meanwhile, the U.S.
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