Wall Street Throws a Tantrum…

Investors are fleeing tech stocks amid fears

The Nasdaq is down 10% this week as investors sell tech stocks.

The sell-off began last Friday after tech giant Apple reported weaker-than-expected earnings. The rout has continued this week, as investors have dumped other tech stocks, including Amazon, Facebook, and Alphabet (Google’s parent company).

There are a number of factors behind the sell-off. One is the fear that tech stocks are overvalued. The Nasdaq has been on a tear for the past few years, and some investors believe that it has reached a peak. Another factor is the recent rise in interest rates. Higher interest rates make it more expensive for companies to borrow money, which can hurt their earnings.

The sell-off in tech stocks is a reminder that even the most successful companies can be vulnerable to market forces. It is also a reminder that investors should be careful about chasing after high-flying stocks.