Friday 08 July 2022

*NEW RESEARCH* A dismal quarter for tech stocks as markets crash

Share price chart Q2 2022It has been a dismal quarter for tech stocks. Markets crashed in April, with inflationary fears taking hold. After some respite in May, June was another terrible month for all the indices we track, with every index posting losses.

Overall, the tech-heavy NASDAQ fell 22.4% quarter-on-quarter (QoQ) during Q2. The UK's FTSE Software and Computer Services (SCS) index fared worse in June than it had in May, which was in turn worse than April. It fell 14.3% in Q2 but that added to a steep Q1 decline, to leave it down 26.3% year-on-year (YoY). Even the FTSE 100, relatively steady for much of 2022 and indeed a beneficiary of the continued weakness of Sterling against the US Dollar, faltered during June. It ended 4.6% down QoQ, as fears of an economy-wide downturn spooked investors.

Subscribers to the TechMarketView Foundation Service and UKHotViews Premium can read more by downloading the Q2 2022 edition of IndustryViews Quoted Sector. Or for detailed commentary by month, see Share Performance in June 2022 and work back.

Posted by Tania Wilson at '14:53' - Tagged: markets