The Federal Reserve’s aggressive interest rate hikes to tame the soaring inflation has prompted recession fears among investors. As a result, the interest-rate-sensitive technology industry has witnessed massive sell-offs lately. The tech-heavy Nasdaq Composite lost 26% year-to-date.
The central bank is expected to keep raising interest rates this year, keeping tech stocks under pressure. However, given the strong demand for tech products and solutions and the consistent breakthroughs, the industry should rebound soon.
