Market Sell-Off: 3 Growth Stocks Down 70% (or More) to Buy Now
Growth stocks have been hammered in 2022 amid sky-high inflation and interest rates. The Federal Reserve, in fact, just raised interest rates by 0.75 percentage points, the largest such increase since 1994, after inflation hit 40-year highs.
How do interest rates affect growth stocks? There are lots of moving parts, but without getting into the technicalities, higher interest rates compel consumers to spend less and makes debt costlier for corporates. That hurts sales and profits, which drives stock prices lower.
A sell-off in growth stocks, however, is also one of the best times to invest. Top growth stocks can help long-term investors build life-changing wealth, and since growth stocks typically trade at a premium, there's nothing better than if you can buy them during a market sell-off. Here are three growth stocks down more than 70% from their all-time highs to buy now.
Source Fool.com
