Tech stocks are tumbling as the Federal Reserve wrestles with inflation in what is expected to be the central bank’s most aggressive tightening cycle in more than 40 years.
What to Know
On CNBC’s “Squawk On The Street” Wednesday, Salesforce Inc. CEO Marc Benioff said his cloud company was born into a recession.
“In 2001, we almost lost our company because of a situation very similar to this,” Benioff said. “We had to make fundamental changes to our business model. It made us much stronger.”
When the Fed starts raising rates, growth stocks tend to underperform so there are steps that companies need to take to survive the current market environment, he said….