The sectors that benefited most from the pandemic-inspired shift to working from home have fallen hard since late January, as rising interest rates pushed investors into investments promising surer returns. Hot technology firms and blank-check merger companies have tumbled from their highs, pushing the Nasdaq Composite Index down 8% from its latestExercise bike maker Peloton Interactive Inc. is off 38% from its mid-January high, partly reversing its fivefold gain last year.
But the carnage hasn’t been limited to tech. Lately, the firms that were supposed to benefit from the economy’s reopening have slumped too. The Russell 2000 index of smaller stocks has fallen 7.5% from its March 15 high. Tupperware Brands Corp. has fallen 35% from its Jan. 11 high after more than doubling last year. Watchmaker Fossil Group Inc., up 173% between the end of December and Jan. 27, has fallen 52% from its high.
The pullbacks are noteworthy at a time when the broad market indexes continue to trade near record highs. Many portfolio managers believe the outlook for stocks remains good, with the economy expanding at a healthy clip,
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Because we are in an all time historically large bubble?
Tech companies are doing great sell ... of your data
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