First Asset Core Canadian Equity Income ETF Cdn Eq CINRF

Fidelity caused tech-castrophy

[lamystique]

https://www.siliconinvestor.com/stocktalk/msg.gsp?msgid=15502426 "As technology and telecommunications stocks crashed in the third quarter, the nation's largest mutual fund complex was selling them aggressively," the firm wrote in its SECrets Newsletter. Fidelity parent FMR Corp. sold more than $1 billion each of stock in market leaders such as Nokia (NOK: news, msgs), Vodaphone and Nortel (NT: news, msgs), and more than $500 million each of Lucent (LU: news, msgs), EMC (EMC: news, msgs) and JDS Uniphase (JDSU: news, msgs), according to Alpha Equity Research, which tracks Fidelity funds for institutional investors. "As the single largest player in the stock market, accounting for an estimated 15 percent of total volume, Fidelity Investments undoubtedly contributed to the market rout," FreeEDGAR said.