Economics
Bears Target Tech Rebound Amid $8.3 Billion ETF Outlow
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Traders are betting a recovery in technology stocks will fizzle on concern global economic growth fails to justify valuations.
While the Nasdaq 100 Index climbed 2.8 percent in two days, after reaching a four-month low, the rebound followed six weeks in which investors pulled $8.26 billion from an exchange-traded fund tracking companies from Google Inc. to EBay Inc. Bearish options on the ETF cost the most in more than two years relative to bullish bets, data compiled by Bloomberg show.