Tech stocks continued their descent from lofty highs on Monday pulling the tech-heavy Nasdaq 100 towards correction territory (correction defined as 10% drop from all-time highs). Expectations of Fed tapering and inflation pressure from supply shortages has sent the US treasury yield sharply higher. High growth tech stocks, which had served as a haven for investors throughout the coronavirus pandemic, are particularly sensitive to interest rates given their valuations rely on profits many years in the future. Facebook particularly suffered and was among the five worst-performing stocks on the S&P 500 after a whistle-blower alleged that the company does little to stop the spread of hateful content on its platform. This was then compounded by its' Instagram, WhatsApp and Facebook services suffering global outages.