The US government deadlock is starting to take its toll on investor confidence
Jay Soloff
Argonath Financial
The US government deadlock is starting to take its toll on investor confidence. Today we're seeing investors roll out of riskier stocks and into safer investments. Technology is getting hit the hardest, with the sector down over 2%. The only positive sector today is utilities, up just under half a percent. Of course, utilities are the quintessential safe-haven stocks. Big tech names are really taking it on the chin today. Facebook (FB) is down over 6%, LinkedIn (LNKD) is down nearly 7%, and Yahoo (YHOO) and Netflix (NFLX) have dropped around 5%. This is how a selloff starts. Investors first take profits on their biggest winners. Then, they start selling the rest of their holdings if conditions don't improve. Bottom line, Congress needs to act now to keep investors from running to the hills.
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I'm an investments analyst for a US-based independent investment research firm. My focus is on economics, options, and all types of stocks, but especially tech, Internet, and renewable energy companies. I have experience as a options market maker on the floor of the CBOE, as a consultant on Wall Street, and as a senior analyst at a multi-strategy hedge fund. You can visit my website at www.argonathfinancial.com.
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Jay Soloff
Research Analyst
Argonath Financial
I'm an investments analyst for a US-based independent investment research firm. My focus is on economics, options, and all types of stocks, but especially tech, Internet, and renewable energy companies. I have experience as a options market...
Expertise
No areas of expertise
Jay Soloff
Research Analyst
Argonath Financial
I'm an investments analyst for a US-based independent investment research firm. My focus is on economics, options, and all types of stocks, but especially tech, Internet, and renewable energy companies. I have experience as a options market...
Expertise
No areas of expertise
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