Tech Selloff Drags Dow Down in Stock Market Plunge

The Dow Jones Industrial Average sank over 300 points as a tech selloff ensued, with Apple, Tesla, and Nvidia experiencing significant declines. Investors' concerns about potential Federal Reserve rate hikes prompted the sell-off. High interest rates put pressure on growth stocks, such as tech stocks, by reducing the value of future cash flows. Despite the drop, these stocks have still performed well this year, with Apple surging 41%, Tesla soaring 102%, and Nvidia up a remarkable 220%.