Oil Drops, Stocks Recover as Tech Rotation Continues — SkimNews
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- U.S. stocks recovered part of last week’s sell-off after oil prices fell sharply, and a separate market update showed equity indexes rising amid sinking crude oil and lower Treasury yields.
- Nasdaq and the S&P 500 rolled over and turned negative as rotation out of tech continued, contrasting with the broader rise in U.S. equity indexes.
Why it matters: For investors in the two benchmarks, the Nasdaq and S&P 500, the market picture was split: falling oil accompanied a rebound from last week’s sell-off, yet continued rotation out of tech coincided with both indexes turning negative. The headline recovery therefore covered only part of the prior sell-off and left tech-related weakness in place.
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