Rolling coverage of the latest economic and financial news
After a stellar run in recent months, technology stocks are under pressure amid growing expectations of interest rate rises.
Those expectations were bolstered last week by the US Federal Reserve, which hinted it could raise borrowing costs before the end of the year.
Congratulations if you successfully “stagged” out of the SpaceX IPO at the $225 top last week.
Yesterday the reverse-rocket stock briefly broke lower than the $150 post-IPO opening price. The option market is bearish, hinting it could break $100 if the slide continues. There was clearly good money to be made playing the FOMO curve that erupted around the deal, but the secret of any good party is knowing when to bail-out.
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