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Tech has lagged all year round in 2022, with the Nasdaq tumbling 29.62% year to date as of December 12. Tech stocks have been the victim of high interest rates, high inflation, and huge sell-offs.
Growth stocks have been punished in 2022. The Fed's aggressive rate hikes throughout the year panicked investors who abandoned ship and caused major sell offs in tech.
Investors have a lot to digest these days trying to navigate recession fears, interest rate hikes, inflation, consumer strength, and corporate earnings.