The sell-off of technology stocks intensifies, with the S&P 500 index evaporating $1 trillion in four days

The sell-off in technology stocks has worsened over the past week, with investors suffering their largest losses since April, as traders sold shares of the most highly valued companies in the market ahead of the Federal Reserve potentially issuing key interest rate guidance. In just four days, the S&P 500 index has evaporated by about $1 trillion. Matt Maley of Miller Tabak stated that he will continue to monitor whether this plunge is a minor blip or a more concerning event, while Howard Marks of Oaktree Capital Management warned that the U.S. stock market is in the "early stages" of a bubble. JP Morgan's trading division noted that some investors took profits due to valuation concerns, while others viewed the decline as a "buying opportunity."