On Friday Eastern Time, the Nasdaq index has cumulatively retreated by 1% from its January high, marking a sensitive "sentiment correction period" for tech stocks. Under the dual pressure of a global energy crisis sparked by the Iran conflict and persistently high interest rates ("Higher for Longer"), growth tech stocks, which had previously led the market, are facing their most severe sell-off pressure since early 2026. Although a 1% decline is still considered minor by traditional definitions, in the current extremely sensitive market environment, it reflects investors' skepticism about whether corporate earnings can cover the ever-increasing cost of capital.
Risk Balancing: Shifting from Growth to Safe Havens
Currently, market pricing has begun to account for the long-term inflation spiral triggered by the Iran war. As the yield on 10-year U.S. Treasury bonds rises to multi-month highs, the high valuation premium of tech stocks is rapidly eroding. Analysts believe this round of adjustment is not a complete market collapse but a "tactical pause" within a bull market. Investors are selling off highly liquid blue-chip tech stocks to secure cash in preparation for potential macroeconomic shocks.
