Why technology companies are suffering historic losses on the American Stock Exchange

  • Felipe Llambías (@felipellambias)
  • BBC News World

Color photograph shows a billboard in New York with an image from the Nasdaq app

Credit, Getty Images

photo caption,

The Nasdaq index, which reflects swings in tech stocks, dropped nearly 23% between January and May 2022.

After achieving spectacular profits during the pandemic, the stock market has been recording a bad year in 2022.

Investors have been suffering losses, even those who bet on securities considered safe, such as those of technology companies, which had been showing good results for years – until now.

In downtown New York, in the United States, surrounded by the lights and electronic billboards of Times Square, is Nasdaq, the stock exchange specializing in technology companies. As of June 15, the Nasdaq index (which reflects the fluctuations in the set of shares traded on that exchange) has fallen by almost 32%.

“It’s one of the biggest drops ever suffered by Nasdaq in its entire history,” says Eduardo Carbajal, professor of economics and finance at the Instituto Tecnológico de Monterrey, Mexico. And this scenario did not improve in the month of June.

About Yadunandan Singh

Born in 1992, Yadunandan approaches the world of video games thanks to two sacred monsters like Diablo and above all Sonic, strictly in the Sega Saturn version. Ranging between consoles and PCs, he is particularly fond of platform titles and RPGs, not disdaining all other genres and moving in the constant search for the perfect balance between narration and interactivity.

Check Also

Tourism expects to generate 190,000 jobs in 2022 in Brazil

Tourism expects to generate 190,000 jobs in 2022 in Brazil. Compared to last year, the …