Earlier this week, the tech-heavy Nasdaq recorded its lowest close since July 2020, with investors worrying about the impact of increased interest rates and selling shares of chipmakers on concerns over the regulations targeted at limping China's semiconductor industry.
While the continuous digital transformation and migration to the should bode well for the software-as-a-service businesses in the long run, the recent tech sell-off has battered the shares of several SaaS companies.
