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Why this rate-driven sell-off is hitting tech stocks hardest

March 5, 2021


What’s behind the drop in tech stocks? A model Wall Street uses to value stocks is flashing caution.

Tech stocks are in a correction. The Nasdaq 100, the largest 100 nonfinancial stocks in the Nasdaq, is 10% off the historic high it hit just three weeks ago, but many big names are down close to 20%.

Tech in correction
(% from 52-week high)

  • Xilinx 23%
  • PayPal 22%
  • AMD 21%
  • Nvidia 19%
  • Apple 17%

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