The extended sell-off seen in the market since April 12 has been led by high-profile tech stocks, which ironically were the leaders of the rally that began in 2023. The Tech Rout: The broader market, which rallied through 2023, carried over the momentum into the new year and the upward trend continued until March. In April, rate-cut bets began to unravel as inflation stalled its downtrend. Federal Reserve officials, who hinted at up to three Fed funds rate cuts following the March monetary policy meeting, began to sing a different tune. Bond yields began to spike higher in reaction, with the 1…
