The Daily Crunch: Tech stocks hammered after US Treasury Secretary speculates on hiking interest rates

To get a roundup of TechCrunch’s biggest and most important stories delivered to your inbox every day at 3 p.m. PDT, subscribe here.

Are startup valuations about to fall?

Hello, friends! Alex here to talk to you for a hot second about money. Then we’ll get into startups, venture capital, what Big Tech is up to and more. I promise. But hang with me for a moment.

Tech stocks got hammered today: The tech-heavy Nasdaq fell by more than 2%. Cloud stocks endured twice the damage. What happened? The U.S. government said that it might raise interest rates. So what? Well, when rates were low, lots of money that

→ Continue reading at TechCrunch

More from author

Related posts

Advertisment

Latest posts

PG&E Admits it Broke 2020 Promise to Fully Inspect 50K Poles in High Fire Risk Zones

INVESTIGATIVE PG&E Admits it Broke 2020 Promise to Fully Inspect 50K...

AI (Artificial Intelligence): How Non-Tech Firms Can Benefit

Even though AI continues to thrive and grow, there remain challenges to use the technology. Just some include finding data scientists, determining the right...

Solana, a blockchain platform followed by top crypto investors, says it’s far faster than Ethereum

Solana isn’t widely known yet outside of the crypto community. But insiders think the blockchain platform is interesting for a wide variety of reasons,...