Why CrowdStrike Stock Is Tumbling Today
Shares of cybersecurity company CrowdStrike Holdings (NASDAQ: CRWD) were falling today following the Federal Reserve's decision yesterday to hike the federal funds rate by an additional 75 basis points.
The tech stock was down by 5.1% as of 1:58 p.m. ET.
High-growth technology stocks are especially vulnerable to the Fed's decision as an increase in interest rates makes it more expensive for companies to borrow money.
Source Fool.com