Tech stocks have plunged from their 2023 highs, after starting the year on a tear

• Tech stocks started the year on a tear – but have plummeted since July.
• The Nasdaq Composite is down 9% from its peak, with investors fretting once again about the Federal Reserve.
• The central bank has signaled it’ll hold interest rates at a high level well into 2024 in a bid to crush inflation.

Techs' stunning early-2023 winning streak has ground to a dramatic halt over the past few months, with the sector plunging as investors fret about sticky inflation and higher-than-expected interest rates.