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Amid Global Chaos, the Tech Industry Takes a Rare Tumble

Silicon Valley investors say things could be worse

Tech companies were the darlings of the pandemic economy.

Now, with skyrocketing inflation, rising interest rates, a war in Europe and uncertainty in China, the biggest tech behemoths are dragging down the stock market, while Silicon Valley start-ups are laying off employees — a dramatic downturn for an industry considered a barometer for the global economy.

The collapse has affected even the most dependable bulwarks. Apple, despite record revenue, went from being worth $3 trillion in January to $2.5 trillion Monday. Microsoft, Amazon, Tesla and Alphabet have all lost more than 20 percent of their value this year. Netflix has lost 70 percent.

Please select this link to read the complete article from The Washington Post.

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