Tech stocks are off to their worst start to a month since December with the Nasdaq down 3% already

• The Nasdaq Composite has slipped at the start of August, putting a five-month winning streak at risk.
• The tech-heavy index is off to its worst start to a month since December 2022.
• It's still up 32% year-to-date, thanks to cooling inflation and an AI-fueled rally.

Tech stocks are quietly having their worst start to a month so far in 2023, giving up some of their torrid year-to-date gains as investors lock in their profits and Treasury yields spike.

The sector-tracking Nasdaq Composite has slipped 3% in August for its worst first six trading days of a month since December 2022, putting a five-month winning streak at risk.