Tech Wreck, China Syndrome & Crypto Crash

Check out the accompanying pdf and chart collection. Executive Summary: Investors aren’t cutting tech stocks any slack these days. Jackie looks at how the mighty have fallen, with focus on two tech highfliers whose Q1 earnings didn’t make the grade. … The fallout from China’s Covid lockdowns is inflicting damage on sector after sector of the Chinese economy, with no end in sight. The government is stepping in with support programs for businesses and the unemployed. … Also: The innovation once hailed as an inflation hedge has proved to be anything but. Cryptocurrencies have shrunk in recent months to a shadow of their former value. The stocks of companies working in the crypto industry have been clobbered as well. TerraUSD breaks the buck, and investors flee the not-so-stablecoin.