US tech stocks have run their course for now – and face a 20% to 40% correction, veteran trader says

• US equities are not out of the woods yet, with tech and industrial stocks set to face pain, according to a veteran trader. 
• Jeffrey Bierman said he expects US tech stocks could be vulnerable to a 20% to 40% correction. 
• "The market has been led by tech and so I expect a rotation out of technology and into the lagging sectors," he said. 

The rally in US tech stocks has run its course for now – and the sector could face a 20% to 40% correction, according to veteran trader Jeffrey Bierman.