Tech Stocks Shed $1 Trillion as Oil Surges to Five-Month High, Deepening Wall Street Sell-Off
U.S. equities extended a sharp late-week rout as investors dumped high-growth technology shares and rotated toward defensive assets, with the Nasdaq sliding more than 2% and the market value of major tech names erasing roughly $1 trillion. The move came as crude oil climbed to $110 a barrel for the first time since May, intensifying inflation concerns and reviving fears that higher energy costs could keep interest rates elevated for longer.
