Tech stocks had their worst week since March 2020, when the country completely shut down. The DOW didn't have a good week either. Wonder if Powell is going to throw them a lifeline?
....."At Friday’s close, the Nasdaq was down 7.6% for the week, its biggest decline since March 2020, when global markets sank on Covid-19 concerns. It’s also the fourth straight weekly drop for the tech-heavy index, the longest losing streak since a similar stretch last April and May.
For the year, the Nasdaq is down 12%, losing to the S&P 500, which has dropped 7.7%, and the Dow Jones Industrial Average, which has fallen 5.7%. In 2021, the Nasdaq lagged the S&P for the first time since 2016.