With a slew of technology companies reporting financial results this week, all eyes are on how investors will respond after a series of recent disappointing results from the biggest names in tech—including Alphabet, Microsoft, Meta, and Amazon—rattled investors about the industry’s outlook.
As tech stocks continued to take a beating this week, Wall Street analysts warn that could be bad news for the broader economy, as lackluster earnings results likely signal that inflation and high interest rates are squeezing households and businesses more than expected.
The latest slump adds to an already disappointing year for tech stocks, which were some of the biggest winners during the early stages of the pandemic. The tech-heavy Nasdaq has lost almost 30% of its value this year, compared with the S&P 500’s 19% decline since the beginning of 2022. The Nasdaq’s…
