This copy is for your personal, non-commercial use only. To order presentation-ready copies for distribution to your colleagues, clients or customers visit http://www.djreprints.com.

https://www.barrons.com/articles/tech-shares-extend-slide-51662061095

Tech shares are headed for their fifth straight day of losses, as rising rates and a softening economic outlook combine to crush investor expectations for the group. The Nasdaq Composite is now down more than 8% in a week.

The selloff was initially triggered by the hawkish comments on inflation last Friday by Fed Chair Jerome Powell, dousing a two-month, 20% rally in the Nasdaq Composite that was spurred by optimism that the Fed might be nearing completion of its tightening cycle. Powell’s remarks made it clear that the central bank is going to stay single-mindedly focused on bringing down inflation, and that consumers and businesses alike would probably feel the pain.

Tech shares are headed for their fifth straight day of losses, as rising rates and a softening economic outlook combine to crush investor expectations for the group.

An error has occurred, please try again later.

This article has been sent to

Copyright ©2022 Dow Jones & Company, Inc. All Rights Reserved

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com.