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%
