Stocks fell again on Friday as pessimism around the tech sector continued. Some of the recently beaten-down biotech names recover some of their lost ground, while blue chips General Motors (GM) and JP Morgan (JPM) were down sharply on recall woes and poor earnings, respectively.
Here are some our favorite long articles and tweets from today.
$QQQs dropping so low they might find the plane.
— Downtown Josh Brown (@ReformedBroker) April 11, 2014
With the pre-earnings liquidation of stocks we're seeing, there are going to be some huge pops for companies that have solid reports.
— Bespoke (@bespokeinvest) April 11, 2014
Ezra Klein explains what he calls “The Doom Loop of Oligarchy“
Kevin Roose thinks the prevalence of money-losing start up businesses is a problem. It certainly seems bad for their investors, some of whom are public pension funds. It also seems to be somewhat redistributive as much of the money also comes from very wealthy investors. These startups may be undercutting existing businesses, but eventually they'll either figure out how to make it work, or they'll go away and the previous paradigm will flourish once more.
Next week's data should provide greater clarity on the degree to which Q1 ended on a high note and provide an early glimpse into Q2.
— Joseph A. LaVorgna (@Lavorgnanomics) April 11, 2014