Tech stocks plunge, threatening 2023's stock-market rally
Tech stocks, particularly those in the Nasdaq-100, are experiencing their worst stretch of losses since December, with the index on track for a two-week pullback of 4%. The performance of valuable tech stocks like Apple, Nvidia, Microsoft, and Tesla is raising concerns that this pullback could lead to a broader selloff. Analysts are also noting discouraging signs, such as tech-heavy ETFs nearing a "volume pocket" that could result in further declines. Rising Treasury yields and underwhelming quarterly earnings have added pressure to tech stocks. The question now is whether the unraveling of Big Tech's advance will impact the broader market or if other sectors will help offset the losses.