The tech sector led US stock markets on a pandemic boom last year. Now markets are whipsawing on fears that the Federal Reserve will end the era of easy money, all while a potential war in Ukraine looms. Some warn of a bigger correction to come on a scale not seen since the dotcom collapse of the late 1990s.
On Monday, US stock markets crashed then rallied. The Dow Jones at one point lost more than 1,000 points before ending up just over 100. Tuesday was more of the same with the Dow losing 800 points only to gain most of it back. Analysts expect more volatile days ahead. The Fed on Wednesday issued its latest update on its plans to raise rates in order to curb inflation, and the world’s largest tech firms are preparing to issue their latest results to investors, who appear to have grown more skeptical about their prospects.
