Big Tech Stocks Tumble - Warning or Opportunity?

Technology stocks were particularly hard hit (with many in the group of correction territory) as bond yields rose. Rising yields often signify that investors see inflation and strong economic demand in the future.

The Federal Reserve confirmed it will likely soon begin reducing it's bond purchases, which could lower bond prices and lift their yields. Higher bond yields make future profits less valuable and fast-growing technology stocks are looking for big profits many years down the line.

Technically, a correction is a 10% or greater drop. I do not think we have seen the bottom yet in some of these tech stocks…

$Facebook(FB)$was the biggest loser on 11 October 2021 as it was dealing with widespread outages.

I personally, don't expect the (one-off) seven-hour global outage to have any long-lasting impact on  $Facebook(FB)$network effect. Facebook is a fast-growing and lucrative company. And, it certainly seems attractive based on it's strong fundamentals and valuation.