Tech stocks have been hammered since the beginning of the year due to the Fed’s aggressive interest rate hikes to tackle the high inflation. The tech-heavy Nasdaq Composite is in the bear market, having fallen 32.6% year-to-date.
Many experts believe that tech stocks will likely tumble further as the Fed continues its aggressive rate hikes. Fed officials have now raised the key rate prediction for this year to 4.25% to 4.5% from the previously projected 3.25% to 3.5%.
