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Why this rate-driven sell-off is hitting tech stocks hardest

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A Model X is on display at a Tesla showroom on February 13, 2021 in Beijing, China.VCG | Visual China Group | Getty ImagesWhat’s behind the drop in tech stocks? A model Wall Street uses to value stocks is flashing caution.Tech stocks are in a correction. The Nasdaq 100, the largest 100 nonfinancial stocks in the Nasdaq, is 10% off the historic high it hit just three weeks ago, but many big names are down close to 20%.Tech in correction(% from 52-week high)Xilinx 23%PayPal 22%AMD 21%Nvidia 19%Apple 17%What’s going on? The market is worried interest rates will be shooting up and the Federal Reserve …

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