‘Sell Everything’ Takes Hold As Tech, Crypto, and Metals All Crack
Global markets slid hard on Friday as losses spread across tech stocks, cryptocurrencies, and precious metals, reinforcing fears that investors have moved into a “sell everything” mindset.
Much of the pressure is coming from tech, as doubts grow over whether the AI boom that powered recent gains can live up to expectations.
“A session of pure carnage overnight as the rotational flows noted in yesterday’s note — out of tech and into cyclical morphed into a ‘sell everything’ mentality across stocks, crypto and commodities,” Tony Sycamore, a market analyst at IG Australia, wrote on Friday.
In Asia, South Korea’s tech-heavy Kospi plunged and briefly triggered a trading halt after the index dropped…
