Nasdaq Falls 186 Points on Tech Rotation; Booking, Expedia Climb on Travel Hopes
The stock market is going through a clear rotation right now, as investors try to position their portfolios to take maximum advantage of what they hope will be improving conditions for the global economy. That's generally been bad news for the Nasdaq Composite (NASDAQINDEX: ^IXIC) over the past few days, because market participants have apparently shifted away from the tech winners during the coronavirus pandemic and are instead investing in companies in sectors that don't have as large an influence in the Nasdaq stock market. Even as the Dow Jones Industrials flirted with 28,000 for the first time since before the bear market in March, the Nasdaq-100 and the Composite both lost ground.
That's not to say, though, that every Nasdaq-listed stock did poorly. News of advances in medical science fighting COVID-19 helped lift travel stocks, and that included online travel specialists Booking Holdings (NASDAQ: BKNG) and Expedia Group (NASDAQ: EXPE).
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Source Fool.com
