
January has marked one of the most volatile starts on record and the sell-off in high growth technology stocks was vicious. In a prior note (Data Insight: A Turbulent Start to the Year for Global Equities, January 27, 2022), we observed that technology stocks suffered from the largest drawdown in the Russell 1000 index. 94% of constituents within the information technology sector have experienced a drawdown of at least 10%, while two-thirds of the sector have experienced a drawdown of at least 20%. Netflix Inc, while having GICS Sector of Communication Services and a Refinitiv Business Classification Sector of Technology