Rolling coverage of the latest economic and financial news
Despite today’s drop in software and data companies, the UK’s FTSE 100 share index is down just 0.07% this session as investors rotate into other sectors.
Worryingly, that pattern “echoes what we saw in 2000 as the dot-com bubble started to burst”, analysts at Deutsche Bank warn.
They reminded clients this morning:
Equities started to fall from the March 2000 as tech stocks saw significant declines. However, consumer staples, utilities and healthcare rallied significantly over the months ahead, and in September the S&P 500 actually came within a percentage point of its record high from six months earlier.
