September 30, 2020Filed under: Weekly Market Commentary

WHAT TECHNOLOGY’S CORRECTION MEANS

Jeffrey Buchbinder, CFA, Equity Strategist, LPL Financial Scott Brown, CMT, Senior Analyst, LPL Financial Nick Pergakis, Analyst, LPL Financial

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Boone Wealth Advisors

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The recent correction in the S&P 500 Index’s technology sector presents a unique challenge to markets following a historic stretch of outperformance as technology’s share of the market has ballooned in size.
Despite September weakness in this sector that has dragged the broader market lower, we expect technology leadership to continue given supportive underlying fundamental and technical conditions.

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