Wall Street Tech Stocks Hit 7-Month Lows On Ukraine Conflict, US Rate Hike Fears

Sumaira FH Published January 24, 2022 | 08:20 PM

Wall Street Tech Stocks Hit 7-Month Lows on Ukraine Conflict, US Rate Hike Fears

NEW YORK (UrduPoint News / Sputnik - 24th January, 2022) Wall Street's Big Tech sector hit a seven-month low on Monday as highly-valued stocks that used to be the darling of investors continue to reel from a sell-off triggered by US rate hike fears and the possibility of a war in Ukraine.

The Nasdaq Composite index featuring technology icons such as Facebook, Apple, Amazon, Netflix and Google broke below 14,000 points for the first time since June, for a month- and year-to-date loss of almost 15%. At the rate the sell-off is going, January might end up an even worse month than October 2008, when the index lost 17% at the height of the financial crisis.

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