Top CEOs and investors have struck an optimistic tone on the recent sell-off global technology stocks, telling CNBC it's unlikely to metastasize into a broader market crisis.
The tech-heavy Nasdaq 100 index closed Monday's trading down more than 26% year-to-date and earlier this month — after the Federal Reserve raised interest rates — the world's largest technology companies shed over $1 trillion in value in just three trading sessions.
Tech and growth stocks have been hit hard by the prospect of higher rates, as the Fed and other major central banks around the world look to rein in soaring inflation by tightening monetary policy.
The sudden downturn for high-growth tech stocks – widely seen as overvalued at the market peak in late 2021 – has led some commentators to voice concerns about a tech-driven crash similar to that of the "dotcom bubble" bursting in 1999/2000."Clearly there is a question of what should the exact market value be of some of these models, but the...
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