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Why Did Tech Stocks Crash in Early October?

Paige Tanner
Why Did Tech Stocks Crash in Early October?

October started with a sharp drop in the stock markets as the Federal Reserve increased interest rates by 25 basis points to 2.25%. This was the highest interest rate level since 2008 when the Fed cut rates to near zero to tackle the recession. The stock market reacted after a few days as investors adjusted their financial models.