U.S. markets and stock exchange traded funds retreated Tuesday for the third consecutive session as the selling in high-growth technology stocks led the spiral downward.

On Tuesday, the Invesco QQQ Trust (NASDAQ: QQQ) declined 4.6%, SPDR Dow Jones Industrial Average ETF (NYSEArca: DIA) decreased 2.1% and iShares Core S&P 500 ETF (NYSEArca: IVV) fell 2.7%.

Tech stocks were among the biggest losers Tuesday as investors trimmed exposure to some of the high flying shares that have benefited the most from the coronavirus pandemic and the new stay-at-home environment.

“I think we should start to anticipate a rotation—the momentum behind tech is going to ease,” Seema Shah, chief strategist at Principal Global Investors, told the Wall Street Journal. “As we’re seeing easing lockdowns and the prospect of a vaccine, people are beginning to go back to a more normal way of life, and reliance on tech is starting to fade from the peak where it was at the height of the lockdown.”

As investors returned from the summer hiatus, many are wary of the economic recovery and the political risk from the U.S. presidential election ahead, along with the overhanging coronavirus pandemic.

“Typically, bubbles are unwound when the Fed takes away the punch bowl. Obviously, this is very unlikely to happen anytime soon,” strategist Chris Senyek of Wolfe Research said in a note. “However, this bubble can still be unwound by sustained economic disappointments!”

Further adding to the uncertainty, President Donald Trump said he was considering “decoupling” from China and wasn’t seeking to bring outsourced jobs back to the U.S. The comments are the latest in a multiyear back-and-forth between the two largest economies in the world.

“Decoupling is an economic concept, not a political concept,” Sebastien Galy, a macro strategist at Nordea Asset Management, told the WSJ. “These have the potential to be very significant moves.”

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