When it comes to investing news, the biggest story of the day is probably the latest news about Big Tech. With the chips that power smartphones and games consoles running on silicon, it’s hard to ignore the recent chip shortage in the tech industry. The shortage is expected to subside as massive investment kicks in around the world. In other investment news, the host of Payne Points of Wealth discusses the rise of cryptocurrency and how regulators in China are clamping down on tech firms. This has caused massive losses for funds that track tech firms.
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Despite the recent decline in the market, many investment pundits believe it’s a good time to buy stocks in the tech sector. In fact, many technology companies have fallen since the start of the year, and a slowdown in the U.S. economy could make them under-perform again. Meanwhile, consumer staples have failed to keep up with the market, and their lackluster performance is being attributed to high inflation. While holding cash is always recommended, it should be considered in moderation, because holding too much cash is counterproductive and can create risks for your portfolio.
