Following its record close on Oct. 29, the NASDAQ has been embroiled in an ongoing selloff that has been aggravated by numerous factors. Perceived overvaluations, artificial intelligence’s threat to Software-as-a-Service stocks, and a rotation into defensive and cyclical sectors have all contributed to mounting losses.
The selloff was punctuated in late March when the index briefly entered a correction. And while the index’s all-time high was less than six months ago, for growth investors who have become accustomed to tech stocks’ recurring double-digit returns and seemingly limitless ceiling, it can feel like an eternity.
