Tech Bloodbath: Nasdaq (^IXIC) Crashes 400+ Points as Investors Flee Growth Stocks
Wall Street's darling tech sector got hammered today—proving even the most inflated valuations eventually meet gravity.
The Nasdaq Composite (^IXIC) nosedived over 400 points in its worst single-day drop since the 2023 rate hike panic, as growth stocks faced a brutal reckoning.
What triggered the selloff?
No single catalyst—just the old-fashioned reality check that comes when 'P/E ratios don't matter' stops being a valid investment thesis.
Who got hit hardest?
Unprofitable SaaS darlings, meme-stock holdouts, and anyone still pretending ARK funds are a coherent strategy.
Meanwhile in crypto-land: Bitcoin barely flinched—because decentralized assets don't care about your traditional market tantrums. (Cue the 'stores of value' victory laps.)
One hedge fund manager quipped: 'Turns out 'disruptive innovation' works both ways—who knew?'
