Inflation is currently at a 40-year high, which has sent the U.S. Federal Reserve on one of its most aggressive campaigns to increase interest rates in its history. It has driven consumers to tighten their belts while also hitting the bottom line of corporate America.
For those reasons, major market indexes like the S&P 500 and the Nasdaq 100 have swung in and out of bear-market territory all year. Many individual stocks in the technology sector have been crushed far worse than the broader markets, with losses of 50% or more becoming common in 2022.