Technology stocks have witnessed a massive sell-off lately on investors’ concerns over the Fed’s aggressive policy tightening to combat soaring inflation. The Fed recently hiked the benchmark interest rates by 75 basis points, the largest increase since 1994.
Economists polled by Reuters believe the central bank could further hike rates by 75 basis points in July and 50 basis points in September. A rising interest rate environment doesn’t bode well for the debt-dependent tech industry.
