'Big Short' Michael Burry admits he was 'wrong to say sell' after the Nasdaq 100 entered a bull market
as the Federal Reserve has been hiking interest rates aggressively in the last year in its war on inflation. The hiking cycle makes borrowings costlier. Investors also tend to move their funds from riskier investments such as stocks to low-risk avenues like deposit accounts.that Fed could slow its rate hikes or even start cutting rates later this year, prompting tech stocks to rise.
Tech stocks have also been outperforming broader indices this year as investors readjusted their allocations amid the banking turmoil.
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