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Trump vs Biden: Wall Street expects a slog for big tech no matter who wins

Some fund managers say they are growing alarmed by what they see as a consensus in Washington to tighten regulations

big tech stocks | US Presidential elections 2020 | Wall Street

By David Randall & Svea Herbst-Bayliss  |  New York 

Some investors are betting the technology and communications stocks that drove a massive rebound in U.S. markets this year will face a tougher slog in coming months, no matter whether Republican President Donald Trump or Democratic challenger Joe Biden wins Tuesday's election. Betting against big technology has been a risky proposition over the last decade, as stocks like Amazon, Google and Netflix have shot higher at the expense of so-called value and cyclical stocks such as banks and energy companies. Recently, however, some fund managers say they are growing alarmed by what ...

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First Published: Sat, October 31 2020. 07:18 IST