For the first time in almost two decades, the US stock index "Nasdaq" is on the verge of losing to the index "Standard & Poor's 500" for consecutive years

At this time during 2021, the"Nasdaq" index was at its peak, as it jumped strongly after the period of the spread of the coronavirus, and employment was booming, especially in the technology sector.

But a year later, and right now, the landscape is very different.

In a list of 15 large US companies that are leading the US technology sector, not a single company has managed to achieve positive returns until the current quarter of this year.

On the contrary, large companies lost a huge part of their market value, as about 700 billion dollars evaporated from the market value of Microsoft, and the company "meta", the owner of the famous social networking site "Facebook", lost about 70 percent of its market value, more than 600 billion dollars.

In general, investors lost about 7.4 trillion dollars of market value, after a decline witnessed by 12 sub-indices within the "Nasdaq".

The decline was caused by a significant rise in interest rates, which disrupted access to easy capital, and high inflation in the United States caused a significant devaluation of the future profits of technology companies.

The crisis has also affected digital currencies, as well as the shares of technology companies.

US stocks fell sharply, entering the "bear market" stage.

The pain felt by companies as a result of the economic conditions was strongly reflected in their decisions, which were mostly directed towards reducing costs, freezing new hires, and sharply laying off employees.

The world has seen CEOs come forward to the public to acknowledge the difficult economic situation.