Ladenburg Thalmann Asset Management CEO & CIO Phil Blancato joins Yahoo Finance Live to give an outlook on the market and tech stocks ahead of anticipated Fed interest rate hikes.
Shares of Amazon (NASDAQ: AMZN), Apple (NASDAQ: AAPL), and Meta Platforms (NASDAQ: FB) were all sliding today as investors continue to dump technology stocks in anticipation that the Federal Reserve will raise interest rates throughout 2022. Today's drop comes as tech stocks have been tumbling since the beginning of this year as investors have processed information about rising bond yields as well. Amazon was down by 2.2%, Apple had dropped 2.7%, and Meta Platforms tumbled 2.8% as of 11:37 a.m. ET.
Buying into a steep decline in stocks can be a scary prospect, but history suggests it can also be very rewarding.