By the end of Monday, the tech-heavy Nasdaq fell 2.4%, putting it in correction territory, down 10% from a recent high. Then, Tuesday comes around, and the Nasdaq posts its biggest rise in four months, up 3.7%. Susan Schmidt, head of U.S. equities at Aviva Investors, says that in some ways this movement is “very understandable.” “Remember that that Nasdaq index has been our outperformer of the indices, not only last year but the last two years. Last year that index was up over 40%.” Schmidt says investors are torn whether to continue putting money into tech stocks, which have done so well over the course of the pandemic, or if they want to diversify over other industries, too, with stimulus on the way and other businesses slated to benefit over the course of a recovery.
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