What start to 2022 it has been for growth stocks and the Nasdaq, we have investors taking a massive hit on their portfolio.
The NASDAQ is officially in correction territory, down 10.7% from the previous record high in Nov 19. To be honest, it’s not only the technology sector getting routed this year. The S&P 500 has also declined about 5% thus far in 2022. Talks of the rising interest rates has affected the market sentiment.
Among them is Cathie Wood who is under duress from her shareholders after seeing a massive sell off in ARKK (one of her numerous growth funds). Poor her. When her funds were doing well, everyone was praising her to the sky, claiming that they foresaw of her Midas touch. Suddenly, a spike in volatility and you see people wanting her head. Oh well, the perils of being a public investor....