Tech Billionaires Lost $373 Billion in Market Rout

The fall in the markets since January affects almost all investors. 

Apart from the defensive sectors and energy, the rest of the economy is impacted by the uncertainties surrounding growth.

The aggressive increase in interest rates by the Federal Reserve to crush inflation, which is at its highest in 40 years, has raised fears of a sharp slowdown in economic activity. These fears are a bad blow for growth assets like tech groups that are bets on the future.

Unsurprisingly, tech groups have been struggling for several months. The same tech companies didn’t help matters by issuing dire warnings about the economic situation.

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