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Tech stocks are seeing their biggest blowup since the dot-com era

·1 min read
Tech stocks are seeing their biggest blowup since the dot-com era
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U.S. stocks are back in rally mode this week, but the main benchmarks are still sharply lower for the year, with the Nasdaq Composite down nearly 27%, making it the worst-hit among the main benchmarks. Using the Invesco QQQ Trust Series ETF (QQQ) as a benchmark, U.S.-traded tech stocks have fallen by two percentage points or more during more than one-fourth of the trading days so far this year. As the first half of the year comes to a close, investors will be keeping a close eye on expectations surrounding inflation, unemployment and economic growth as they try to gauge exactly how aggressive the Federal Reserve will be what’s expected to be the most strident quantitative tightening since the days of Paul Volcker, according to Capital Economics.