Tech stock sell-off may be a good signal

The tech-stock-heavy Nasdaq index is down 15% since its November peak. But what’s bad for tech investors might be good for society as we move into a post-pandemic world.

Trader in the New York Stock Exchange
US traders are seeing much more volatility in 2022
(Image credit: © Spencer Platt/Getty Images)

“There is an old saying that ‘markets ride the escalator up and take the elevator down’,” says Russ Mould of AJ Bell. Last year’s stockmarket gains were steady and serene, with “just 40 daily moves of more than 1% in the FTSE 100 from open to close, compared with 116 the year before”. But with central bankers about to remove monetary stimulus – investors’ “happy pills” – volatility has made a comeback.

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Markets editor

Alex is an investment writer who has been contributing to MoneyWeek since 2015. He has been the magazine’s markets editor since 2019. 

Alex has a passion for demystifying the often arcane world of finance for a general readership. While financial media tends to focus compulsively on the latest trend, the best opportunities can lie forgotten elsewhere. 

He is especially interested in European equities – where his fluent French helps him to cover the continent’s largest bourse – and emerging markets, where his experience living in Beijing, and conversational Chinese, prove useful. 

Hailing from Leeds, he studied Philosophy, Politics and Economics at the University of Oxford. He also holds a Master of Public Health from the University of Manchester.