Why Shopify, Salesforce, and The Trade Desk Stock Fell This Week
Technology stocks reverted to their old ways this week and were declining as investors grew increasingly concerned that the Federal Reserve's commitment to interest rate increases could end up pushing the economy into a recession.
Those fears caused the S&P 500 to tumble 2.8% and the Nasdaq Composite to fall 3.5% this week. They also dragged Shopify (NYSE: SHOP) down 10%, caused Salesforce (NYSE: CRM) to plunge 10%, and resulted in The Trade Desk (NASDAQ: TTD) falling 10.9% this week, according to data provided by according to data provided by S&P Global Market Intelligence.
Investors were also responding to less-than-stellar news for Salesforce news this week, and an analyst's downgrade for Shopify's stock.
Source Fool.com
