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Tech stocks (and the stock market) are tanking thanks to rising interest rates

Jonathan Shieber
Tech stocks (and the stock market) are tanking thanks to rising interest rates

Tech stocks tanked today amid a broader stock market slide as nervous investors worried that the ten year bull run in public stocks may be coming to an end. The S&P 500 dropped 3.3 percent while Nasdaq composite index (which is the market where many of the largest U.S. tech companies are traded) lost 4% of its value, falling 315.97 points. A few points drove the selling including rising inflation and interest rates as well as a move by the Fed to tighten policy.