Investors’ hopes that the Federal Reserve could pivot from hiking interest rates to cutting them later this year powered the Nasdaq to its best-ever start to the year since 1975. The tech-focused index rose 384.50 points on Thursday, or 3.3%, to 12200.82.
Nevertheless, a 25-bps hike in interest rates this week would put further pressure on stressed margins of various tech businesses scrambling to survive profitably amid high borrowing costs.
