The tech and innovation stocks (this generation’s one-decision stocks/”nifty fifty”) have been particularly hard hit. The group had run to extreme valuations. They were the cure-all during the early days of the pandemic vs. those companies considered sensitive to the economy, which had been shut down. They have imploded as the Fed has been raising rates to fight inflation.
As to the blood in the streets, the music stopped November 22, 2021. … NASDAQ since then is down 31 %, the Ark Innovation Fund (ARKK), the poster child for “all tech, all the time” was down nearly 80% at its low.
Interestingly the stodgy old (tech-lite) Dow is only down about 10% from the 52-week high it hit January 5, 2022.