It's another possible bellweather of the current state of our relationship with the U.S., as data from the Border Policy Institute confirms a significant drop in cross border travel in the spring and summer. The recreational vehicle industry also seeing a change reflected in RV sales and rentals across Canada. So will that trend continue in the fall and winter? Taya Fast went to find out. Nasdaq 100 futures were pointing downward, premarket, after the index lost 2% yesterday in a massive, global selloff of tech stocks. The selling continued this morning in Asia and Europe. The STOXX Europe 600 went down 0.46% in early trading before recovering. Japan’s Nikkei 225 was down 2.5%. And South Korea’s KOSPI was down 2.85%. Bitcoin dipped below $100K but then rallied a little to $101K. Yesterday, the Nasdaq Composite was down 2.04%, Palantir lost nearly 8%, Reddit lost 8.4%, Nvidia was down 4%, and SoftBank lost 10% at one point.The markets are highly vulnerable to a selloff in tech stocks. In October, tech stocks tracked by Bank of America contributed more than 90% of the S&P 500’s total return for the month, according to analysts Savita Subramanian et al. The Magnificent Seven stocks alone contributed 80%. Those are precisely the stocks that were pummeled yesterday.Asian markets are also driven largely by a narrow tranche of companies. “In Hong Kong, it’s six tech stocks that are responsible for 50% of the Hang Seng’s return this year. In Korea, it’s two stocks that are responsible for 40% of the index’s return. In Taiwan, one stock is responsible for more than half of the return, so it is a very narrow rally that is comparable to how much the Magnificent Seven is driving the S&P in the U.S.,”

It’s another possible bellweather of the current state of our relationship with the U.S., as data from the Border Policy Institute confirms a significant drop in cross border travel in the spring and summer. The recreational vehicle industry also seeing a change reflected in RV sales and rentals across Canada. So will that trend continue in the fall and winter? Taya Fast went to find out.

Nasdaq 100 futures were pointing downward, premarket, after the index lost 2% yesterday in a massive, global selloff of tech stocks. The selling continued this morning in Asia and Europe. The STOXX Europe 600 went down 0.46% in early trading before recovering. Japan’s Nikkei 225 was down 2.5%. And South Korea’s KOSPI was down 2.85%. Bitcoin dipped below $100K but then rallied a little to $101K.

Yesterday, the Nasdaq Composite was down 2.04%, Palantir lost nearly 8%, Reddit lost 8.4%, Nvidia was down 4%, and SoftBank lost 10% at one point.The markets are highly vulnerable to a selloff in tech stocks. In October, tech stocks tracked by Bank of America contributed more than 90% of the S&P 500’s total return for the month, according to analysts Savita Subramanian et al. The Magnificent Seven stocks alone contributed 80%.

Those are precisely the stocks that were pummeled yesterday.Asian markets are also driven largely by a narrow tranche of companies.

“In Hong Kong, it’s six tech stocks that are responsible for 50% of the Hang Seng’s return this year. In Korea, it’s two stocks that are responsible for 40% of the index’s return. In Taiwan, one stock is responsible for more than half of the return, so it is a very narrow rally that is comparable to how much the Magnificent Seven is driving the S&P in the U.S.,”