Tech Wreck
There's not a lot of explanation behind the selloff in tech, but it's certainly noteworthy with the PowerShares QQQ (QQQ) taking an almost 2% hit on Thursday. The ETF is down almost 3% over the past three days and is up just 1.6% since the election, certainly lagging other indices, mainly the Dow.
So why the drop? It's hard to say with any real certainty. The market is clearly going through a broader market rotation -- with noteworthy selloffs in stocks like Google (GOOGL) (GOOG), Facebook (FB), Salesforce (CRM), Microsoft (MSFT) and Amazon (AMZN).
But could it really be as simple as that? Under a Trump presidency, investors seem to believe that infrastructure stocks will see a significant boost in the years to come. Hence, investors are ditching tech and going with more industrial names (along with energy and financials, for reasons of their own). While tech may…