Tech Selloff Doesn't Mean Investors Have Given Up on the Bull Market
- ETF investors added money to broad stocks amid tech rout
- Banks, energy and small caps rebounded as value sought
Market Bites Into FAANG Stocks in Tech Selloff
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With the tech meltdown showing no sign of abating, equity bulls are taking solace in how little money is actually leaving the stock market as a whole.
The trend can be seen in investment flows, where one of the biggest withdrawals from exchange-traded funds tracking technology shares in a year was more than offset by deposits into banks, energy producers and retailers.