Underneath the surface, the tech stock heavy Nasdaq Composite is being shredded as traders fret about higher interest rates from the Federal Reserve this year.
Nearly 40% of the stocks on the exchange have been cut in half, according to new research from Sundial Capital Research’s Jason Goepfert. The research firm notes this kind of trading action on the Nasdaq (^IXIC) hasn’t been seen since at least 1999.
“Bulls will suggest that most of the damage has been done, and the indexes should be…
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