Is the Swiss National Bank to Blame for Today's Tech Stock Massacre?

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Faber highlighted that the Swiss National Bank owns $177 billion in U.S. stocks. A quick scan of their 13F shows top holdings include: Apple (NASDAQ:AAPL), Microsoft (NASDAQ:MSFT), Amazon (NASDAQ:AMZN), Google (NASDAQ:GOOGL), Meta (META), NVIDIA (NASDAQ:NVDA)

Faber said he heard the Swiss speculation from three different people today.

Commenting on Faber’s revelation, Jim Cramer said he was puzzling about why the FAANG names were getting hit so hard at 4 AM ET and he thinks Faber may have “answered the puzzle.”

By Staff