The tech-heavy Nasdaq Composite has gained 8% over the past month. However, according to Gargi Chaudhuri, BlackRock’s Head of iShares Investment Strategy Americas, such gains appear transitory.
Moreover, rate hikes are expected to continue this year, which might keep the industry under pressure. Federal Reserve Governor Lisa Cook said, “We are determined to bring inflation down to our target. So, I think we are not done yet with raising interest rates.”
