From Morningstar: 2024-09-05 09:40:00

US equity drama and market downturn fears reach the UK, with Nvidia losing $250 billion market cap in hours. Weak US manufacturing data triggered tech sell-off after Labor Day. Despite UK outperforming US equities last month, concerns remain about UK market’s reliance on “old economy” stocks.

European equity strategist Field likens US market woes to PTSD from previous selloff, notes UK’s relative resilience due to lesser reliance on growth stocks. UK market criticized for heavy tilt towards traditional companies. Analyst sees opportunity for dynamic companies on London Stock Exchange despite current undervaluation. Recent cases of Flutter, Darktrace moving listings to US raise concerns about UK market competitiveness.



Read more at Morningstar: Are UK Equities a Safe Haven From The US Tech Sell-Off?