You could be correct as the European market has just took a turn for the worst the FTSE for example down over 1.45% at time of writing, with the American market index also thaving taken a steep dive southwards. But with every ted day(s) presents opportunities with every following green day. The great thing about the markets is the fluidity that's what makes the markets great, when they move up when they move down. 

Looks like a green day for the Australian stock market tomorrow American futures are up so maybe able to claw back some losses in the tech sector on Friday. 

12/5/2021

looks like holders taking risk off the table here. Spooked by the cost of money, higher rates vs over heated markets don't mesh. 

Cleveland Federal Reserve President Loretta Mester sparked concern on stock valuations and inflation, says 'My read is that there is certaintly in terms of equity prices there is upward valuation pressure there'  Seeing inflation move upto 2% is not a problem', Mester said..So Mester appears open to let inflation run hot. The FED perhaps to lift rates in 2022 to combat inflation. Observation is investors in tech have enjoyed low interest rates so a reset is on the way. 

The covid-19 beneficiary stocks are now non- beneficial.

Cramer's take If rates go higher no one wants anything that sell a multiple- to-sales ..need profits. So boring stocks with strong demand whilst supply, inputs remains limited.

There has been some savage selling over the last week or so, much being overreaction to what has mostly been positive quarterly reporting and performances. There is significant rebalancing been done earlier this year than in previous years and would suggest a clear and cool head and remove any emotion associated with what has been significant market upswing as of April last year providing significant profits leading to abnormal and significant rebalancing coming in to tax period.

If the investments that you hold a sound and solid and they have clear pathways to profitability and growth you may well do yourself a favour and indeed come back in June when frantic rebalancing of portfolios subsides to a more realistic. With the Chinese virus having sent shockwaves throughout stock markets it was always to be expected that the May rebalancing was also to be frantic and abnormal.