by Greg Guenthner
Daily Reckoning
You should make a hasty getaway if a big-name tech stock is weighing down your portfolio…
The market continues to lurch lower this week. Retail stocks were the first to burst into flames. Now household tech names and biotech stocks are feeling the market’s wrath as the weekend approaches. The Nasdaq Composite is a shell of its former self, lagging the major averages and hosting some of the biggest blow-ups on the market right now.
The Nasdaq Composite dropped another half percent yesterday—even though the Dow Jones Industrial Average managed to finish the day in the green. That’s not an isolated incident. The tech-heavy index and the Big Board broke up three weeks ago. In the meantime, the Nasdaq has dropped nearly 5%.