JPMorgan’s Kolanovic Says ‘Shaky’ Tech Rally Is Overstretched
- Mild recession may send equities sliding 15%, strategist says
- Tech stocks look ‘overbought,’ close to all-time highs
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Investors cheering the gains in technology stocks this year may not have much more to celebrate, according to JPMorgan Chase & Co.’s Marko Kolanovic.
Tech looks “overbought,” said the bank’s equity strategists led by Kolanovic in a note to clients Monday, adding that the sector is unlikely to benefit from falling bond yields with markets already over-discounting the decline.