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Real Vision: Finance & Investing

No Santa Rally? What's Behind the Big Tech Sell-Off

Real Vision: Finance & Investing

Real Vision

Business News, News, Investing, Business

4.11.1K Ratings

🗓️ 18 December 2021

⏱️ 35 minutes

🧾️ Download transcript

Summary

DB-Dec017,2021:At the year's end, people are normally buying the winning tech stocks. This year, however, people are selling. What is going on? Jim Bianco, president of Bianco Research, talks about the volatility in tech stocks and whether you should buy the dip. He will also discuss cryptocurrencies and his 2022 outlook on the digital asset space. Interviewed by Maggie Lake. Want to submit questions? Drop them right here on the Exchange: https://rvtv.io/31YK0bP Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0

Hello, welcome to the Real Vision Daily Briefing.

0:07.5

It's Friday, December 17, 2021, a Maggie Lake.

0:11.5

And here with me today is Jim Bianco, president of Bianco Research.

0:14.8

Hey, Jim, happy Friday.

0:15.8

Yeah, happy Friday to you one week before Christmas.

0:19.0

Yeah, but it's kind of a weird Friday, right?

0:22.0

We've got so many, we were just talking about the fact that it's not slowing down at all.

0:25.7

We just have so many things going on and not turmoil in the market, but definitely

0:31.1

feels a little more volatile and unsettled.

0:34.5

We had a sell-off again in equities and they're selling off into the clothes, which is never

0:39.0

a great sign.

0:40.3

Although today it's almost flipped from yesterday, the NASDAQ, which in the beginning

0:43.4

smoked, holding steady, trying to keep its head above positive territory.

0:48.0

The Russell was rebounding and it was the Dow and the S&P taking it on the chin, the

0:52.5

Dow.

0:53.6

It's closing near, it's lows, 500 some points more than 1% the S&P also, about 1% or three

0:59.4

quarters, 10-year yield-dipping, holding around 139, 140, and we've got cryptocurrencies down

1:05.9

of Ethereum 4% Bitcoin, something like 3, 3.5 and headlines of things getting canceled.

1:13.4

Not Christmas yet, but the NFL canceling three games.

1:16.5

I know that was, that just crossed not long ago and everyone upset about that, not to

1:21.0

mention the party's getting canceled and virtual, so there's just a lot to take in

1:25.7

here.

...

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