The Fed’s aggressive methods to curb persistent inflation have resulted in a massive tech sell-off. The onslaught of rising interest rates has induced investors to dump tech stocks this year, evident from the tech-heavy Nasdaq Composite’s decline of more than 30% year-to-date.
However, the development and adoption of new technologies are boosting the prospects of the tech sector. The global digital transformation market is expected to grow at a CAGR of 21.1% to reach $1.55 trillion by 2027.
