Tech stocks’ volatile start to 2022 offers a stark reminder of how harshly Wall Street is punishing the former stars of the pandemic era.
Onetime stay-at-home winners like Etsy Inc, Netflix Inc and PayPal Holdings Inc are among the biggest losers in the S&P 500 Index this year. They’re part of a US$1.3 trillion wipeout in market value for the Nasdaq 100 Index – a tide so strong that even megacaps Amazon.com Inc and Apple Inc are struggling to stay in the green.
