The Nasdaq has entered correction territory, with the key tech index down greater than 14 per cent from its excessive in November 2021.
These falls have accelerated extra not too long ago, after one other sharp 2.75% drop on Friday noticed the Nasdaq end round 7.5% decrease for final week alone.
The autumn in danger sentiment comes amid rising bond yields, a extra hawkish stance from the US Federal Reserve and persistently excessive inflation.
Because of this, buyers are promoting off danger belongings as we see a rotation in the direction of extra cyclical areas of the market.