At a glance
The Nasdaq 100 is down about 31% so far this year, wiping trillions of dollars in market value, as investors reassess the post-pandemic value of many business models. Interest-rate hikes are hitting stocks and diminishing the value of their future earnings. Inflation is driving up costs, while a stronger dollar is weighing on profits and the threat of recession is growing. Retailers such as Amazon.com Inc. are finding some their direct responses to the Covid-19 pandemic — such as massive investments in warehouses and workers to pack products in them — are coming back to bite them. Futures on the Nasdaq 100 fell 0.5% in Monday trading as global risk assets extended their selloff.