Does recent tech sell-off signal 'beginning of the end' for turbo-charged rally?

'Big five' tech stocks hit recently

Managers have warned recent falls for technology stocks could mark the beginning of a wider sell-off in the sector, as they point to overstretched valuations and concerns about crowded trades.

Shares in the so-called 'big five' technology stocks were hit recently, with Apple down 4%, while Microsoft, Facebook, Alphabet and Amazon lost over 3% each in a day's trading, as a note was published by Goldman Sachs entitled Is FANG Mispriced? According to CNBC, the falls accounted for an overall loss of $97.5bn in market value by Friday close (9 June), marking the worst week for the tech-heavy Nasdaq index so far this year. Meanwhile, US tech stock ETFs suffered outflows of €1.8bn in one day last Monday (12 June), according to ETF analysis platform TrackInsight, although shares hav...