‘Tech stocks to tumble amid poor market sentiment’ according to Scott Minerd

Technology stocks will tumble further this year as investors flee to safety and buyers stay on the sidelines, according to Scott Minerd, chief investment officer for Guggenheim Partners.

The Nasdaq Composite Index will probably drop below 3,800, sliding another 13%, he said.

The tech-heavy index already has fallen that much this year, closing at 4,363 last week.