The Nasdaq, known for its heavy tech presence, has fallen into correction territory as the selloff in equities continues to worsen. The tech-heavy index has been hit hard as investors have been selling off stocks across the board.
A correction is defined as a decline of at least 10% from a recent high, and the Nasdaq has now met that criteria. This downward trend comes as a result of various factors, including concerns over rising inflation, higher interest rates, and a potential shift in monetary policy.
Tech stocks, which had been soaring earlier this year, have been particularly vulnerable to the recent selloff. Companies like Apple, Amazon, and Microsoft have all seen their share prices drop significantly in recent weeks.
Investors are keeping a close eye on the market as they try to navigate through the uncertainty. It remains to be seen how long this correction will last and what impact it will have on the broader market.
Overall, the Nasdaq’s fall into correction territory serves as a reminder of the volatility of the stock market and the importance of staying informed and vigilant when it comes to investing.