Macro conditions were troubling for tech stocks even before Russia decided to invade Ukraine, but the slide has only gotten worse in 2022.
Inflation hitting 40-year highs and the Federal Reserve (Fed) hiking rates and promising to pile on more has seen market participants flee high-growth tech names, cementing the Nasdaq as one of the ערגסט פּערפאָרמינג indices this year.
It seems that utilities and energy are the only sectors that investors are finding some solace from the losses, which speaks volumes about the sour mood in the markets, while tech stocks seem rancid for investments.
Notably, year-to-date (YTD), among the top 10 worst performing large-cap stocks in 2022, all ten are from the tech sector, on average losing 69%.
Source: https://finbold.com/tech-dominates-the-top-10-worst-performing-large-cap-stocks-in-2022/