Bloomberg Businessweek
Global IT Chaos Blocks 911 Calls, Grounds Planes
Jul 19, 2024
Experts Mandeep Singh, Jamie Tarabay, Jordan Robertson discuss global IT chaos due to software update crash, impacting various sectors. Helane Becker details airline industry disruptions. Nikki Baird shares back-to-school shopping outlook. Tracie McMillion reflects on market factors and Fed's decisions.
40:32
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Quick takeaways
- The global IT outage caused by a botched software update impacted the airline industry worldwide.
- Investors are advised to reallocate portfolios from technology stocks to sectors like industrials, energy, materials, healthcare, and financials.
Deep dives
Advising Investors on Portfolio Reallocation
Encouraging investors to reallocate their portfolios by taking profits in technology stocks, which have outperformed, and redirecting gains into sectors like industrials, energy, materials, healthcare, and financials poised to benefit from the ongoing earnings recovery.
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