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Nasdaq Index Is Poised for Its Worst Start to a Year Since 2008

  • Nasdaq Composite Index entered correction territory Wednesday
  • Selloff led by tech has wiped out $2.2 trillion so far in 2022

With the worst start of a year in more than a decade and a $2.2 trillion wipeout in market value, the Nasdaq Composite Index couldn’t have had a messier kickoff to 2022.

The tech-heavy benchmark has fallen 8.3% so far this year as of Wednesday’s close, and is on track for its worst January performance since 2008 when the global financial crisis roiled equity markets worldwide. The latest selloff is coming on the back of a surge in U.S. Treasury yields, making pricier stocks less attractive.