Macroeconomic uncertainty has sparked a serious downturn in the stock market. The broad-based S&P 500 has plunged 24%, but many individual growth stocks have suffered bigger losses. For instance, Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) and Block (NYSE: SQ) have seen their share prices tumble 33% and 79%, respectively, leaving both stocks near a 52-week low.

Clearly, investors are worried about how high inflation (and a potential recession) might affect both businesses. To be fair, Alphabet may see slower growth as brands cut advertising budgets to account for softness in consumer demand, and Block may struggle as rising prices temper consumer spending. But those headwinds are ultimately temporary, which makes this a buying opportunity.

Here's what investors should know about Alphabet and Block.

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Source Fool.com