Top Tech Stocks’ $1.7 Trillion Gain Eclipses Canada’s Economy

They've amassed as much money in 2017 as PIMCO has in 46 years

Gains in the world's top technology shares are nearing $1.7 trillion in market value this year, eclipsing Canada's entire economy, or the worth of Germany's 30-biggest companies put together. While the eight tech giants -- Facebook Inc., Inc., Apple Inc., Netflix Inc. and Google parent Alphabet Inc., as well as their Asian peers Baidu Inc., Alibaba Group Holding Ltd. and Tencent Holdings Ltd. have amassed as much money in 2017 as Pacific Investment Management Co. has in about 46-years, their combined market value came off highs last week amid a global selloff. A recent breakdown in the correlation between high-yield bonds and the tech-heavy Nasdaq 100 Index suggests the slide in junk may spread further.

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