While some have been applauding the Republican tax plan’s potential benefit for stocks, it’s clear not every side of this market may be in for a big boost.
Tech stocks such as Amazon AMZN, +1.01% , Netflix NFLX, +1.15% and Microsoft MSFT, +0.64% all got ravaged yesterday, as investors apparently cashed out the sector’s big gains this year. The destination of choice was financials, seen as a likely beneficiary from the tax code changes.
