Stock bulls tested as Nasdaq rout exposes market's vulnerability
Concern remains that the valuations of technology firms have gotten too rich
New York
A CRACK has finally formed in the foundation of the US bull market. Now, investors must decide if any structural damage has been done.
This year's hottest stocks, companies from Facebook Inc and Apple Inc to Netflix Inc and Nvidia Corp, buckled on Friday, spurring losses that sent the Nasdaq 100 to its biggest rout relative to the Dow Jones Industrial Average since 2008. Accounts of what spurred it ranged from bearish tweets by a short seller to a cautious note from Goldman Sachs Group Inc.
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