Federal action is creating hesitancy for tech stocks

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Uncertainty over future US Fed rate rises are causing a flight to defensive sectors, according to Ji...

Uncertainty over future US Fed rate rises are causing a flight to defensive sectors, according to Jim McCabe, fund manager of the Capel Cure Sharp North American Growth Fund. He says that the 50 basis point rise had been expected it has already had an impact on investors, causing them to re-examine the technology sector. He says: "We are in relatively new territory in terms of the way the economy reacts. This may be a completely new paradigm and I think there is an element of that in predicting the impact of the rate rises. I suspect we will see a little bit of slowing in the rest of this...

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