Retail Traders Post Worst Day Since April as Tech Rally Stumbles
A trader work on the floor at the NYSE in New York on Nov. 4.
Photographer: Michael Nagle/BloombergFor the day traders who pile into the hottest stocks, Tuesday was the worst session since the April chaos caused by Donald Trump’s trade war.
The Retail Favorites Index — a Goldman Sachs Group Inc. basket of stocks heavily owned by non-professional traders — was hit particularly hard by the selloff that followed a disappointing earnings report from Palantir Technologies Inc. and a filing showing a famous hedge fund manager made bearish wagers last quarter on the stock and the chipmaker Nvidia Corp.