Yesterday's correction in US big tech stocks was a healthy pullback after a significant rally in recent weeks. The correction was driven by profit-taking and a slight shift in investor sentiment, which is normal in a bull market. The pullback helped to:

1. Reset valuations: The correction brought down elevated valuations to more reasonable levels, making stocks more attractive for long-term investors.

2. Reduce overbought conditions: The pullback alleviated overbought conditions in some tech stocks, which had reached extreme levels.

3. Create buying opportunities: The correction provided a chance for investors who missed the previous rally to buy into quality stocks at lower prices.

4. Test market resilience: The pullback tested the market's resilience and ability to absorb losses, which can help build confidence in the market's overall strength.

With this correction, the market has cleared some of the excesses and is now poised to inch higher again, driven by strong fundamentals, including:

1. Solid earnings growth

2. Improving economic data

3. Central bank support

4. Increasing investor optimism

This correction was a necessary step to ensure a sustainable rally, and the market is now better positioned for further gains.

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