Reuters / Sue Ogrocki
- Volatility could be set for a big comeback on Wall Street, and big tech companies like Facebook and Google are partly to blame.
- Under a major reorganisation, Facebook and Google parent Alphabet, will shift from their traditional homes in the top-performing technology sector and into a deepened pool of telecommunications and media stocks.
- Funds tracking the telecom, tech and consumer discretionary sectors will be forced to trade billions of dollars of stock to realign their holdings, which will likely bring volatility.
SAN FRANCISCO/NEW YORK (Reuters) – Volatility could well be in the cards for Wall Street again early this fall, but not for the same reason stocks got rattled in February.
This time the culprit would be the largest-ever shakeup of the stock market’s broad business sectors, which will mean some of the hottest stocks, like Facebook and Google parent Alphabet, will shift from their traditional homes in the top-performing technology sector and into a deepened pool of telecommunications and media stocks.See the rest of the story at Business Insider
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