The reasons for this as usual are wide ranging, including shockingly poor individual results from these individual companies alongside broader macro trends such as geopolitical unrest in Eastern Europe and East Asia, lingering uncertainties about the timing of full recovery from the COVID-19 pandemic, and - most of all - concerns about how aggressively the Federal Reserve will try to fight soaring inflation that has now reached multi-decade highs: Data by YCharts However, with the calendar turning to 2022, many other large-cap stocks - including a few members of the highly revered FAANG stocks (Facebook ( FB) and Netflix ( NFLX)) - have taken a nosedive while ARKK's sell-off has accelerated: Data by YCharts
The most glaring example of this is the Ark Investment Innovation ETF's ( ARKK) nosedive over the past 12 months: Data by YCharts The market's recent sell-off has taken a heavy toll on many high growth stocks that were the darlings of 2020 and even much of 2021.
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