Wednesday’s FAAMG-led sell-off was no blip, tech bears say

For weeks, warnings that elevated tech-stock valuations could cause a violent selloff bubbled beneath the surface. On Wednesday, they looked prescient.

U.S. stocks tumbled the most since June with rising virus cases threatening the economic recovery. More than $2 trillion has been wiped from the value of American equities this week and Wall Street’s fear gauge spiked to the highest in four months.

Big tech companies from Apple to Amazon led the rout, their shares having gotten so expensive relative to expected earnings that further price gains became hard to justify. Software giant SAP SE set off alarms on future profit when it warned revenue would suffer well into 2021. A day later, U.S. tech darlings exacerbated market volatility for the second time in two months after a summer of gains that outpaced the broader market’s advance by 10 times.

“There’s uncertainty around the coronavirus surrounding the impact of another … Read More

West Bank Palestinians’ olive trees burn as U.N. urges protection for harvest By Reuters

© Reuters. Grass burns in an olive field after Israeli forces fired tear gas canisters during a Palestinian protest against Jewish settlements, near Ramallah in the Israeli-occupied West Bank


By Ali Sawafta and Rami Ayyub

BURQA, West Bank (Reuters) – For many West Bank Palestinians, the olive tree is both a revered cultural emblem and an economic necessity – but it has also become a focal point of a struggle between them and Israeli settlers for a land they both claim.

More than 1,000 trees owned by Palestinian farmers have been burned or damaged in the Israeli-occupied territory since the harvest began three weeks ago, according to a United Nations report.

The Oct 23 report by humanitarian affairs office UNOCHA has also logged 19 disruptions “by people believed or known to be Israeli settlers,” with 23 Palestinian farmers injured.

While the settlers dispute those figures, in normal years

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