Technology

US equity fund managers have begun cutting their exposure to technology stocks as the highly-rated sector falls out of favour with some investors following a long winning streak.

The FTSE 100 was down over 1% by 11am, with Hargreaves Lansdown leading the market lower after being downgraded by Morgan Stanley.

The Nasdaq index suffered its worst day since 2011 yesterday, dropping over 3% as investors continued to switch out of technology and biotechnology holdings.

TECHNOLOGY

Investors backing Google are set to profit from billions of dollars of video advertising revenue over the next few years, a Baillie Gifford American fund manager has predicted.

SOCIAL NETWORKING

Saxo Bank has published a list of ten 'outrageous predictions' which could play out in 2014 and impact global investment markets.

Randeep Somel, the new manager of M&G's Global Basics, has revealed the fund is making new investments in miners again as he looks to position the portfolio for a new era.

While its successful stock market debut stole the headlines and confirmed its position as the darling of the US tech sector, there is more to tech than Twitter.

Tech giant Apple saw profits fall for the third consecutive quarter as it reported its full-year results, although iPhone sales continued to rise.