(Nov 29): For nearly a decade, mega-cap technology leaders like Apple, Amazon, Microsoft, and Alphabet have dominated the U.S. stock market, but those days appear to be over, according to strategists at Goldman Sachs, Yahoo! Finance reported.
David Kostin, the bank’s chief U.S. equity strategist, said this time around, the tide turned for Big Tech behemoths — and the tech sector more broadly — as the Federal Reserve moved away from the easy-money policies that fueled investor enthusiasm while embarking on an aggressive monetary tightening campaign to rein in inflation, said Yahoo! Finance.
Technology stocks, which are especially vulnerable to higher interest rates, have borne the brunt of the Fed-induced rout across U.S. equity markets in 2022, said Yahoo! Finance.
