Tech Stocks Stumble to Worst Start Since 2016 on Rate-Hike Fears
- Even after Friday bounce, Nasdaq 100 index still down for year
- Higher rates jeopardize heady stock prices based on growth
Source: Teradat Santivivut/Getty Images
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The stocks of U.S. technology companies are seeing the worst start to a year since 2016 as fears about runaway inflation imperil the heady valuations left by the market’s run up over the past few years.
Following multiple failed attempts this week to rally back strongly, investors remain hesitant to plow heavily back into shares of growth stocks and there’s still no major signs that the pressure on technology companies will abate anytime soon.