It’s a tsunami of bad news coming from tech.

For two years the covid-19 pandemic saw tech-sector saw at least some growth as the rest of the world ground to a halt. People interacted only through the tech companies’ products and services.

Now the economy is slowing, and the game for the tech sector is changing — but not in a good way. The industry is sharply hurt as the world’s central banks fight inflation, which is at its highest level for 40 years.

After leaving interest rates at almost zero, the US Federal Reserve has been increasing them since March to crush the high prices of goods and services, which have whacked consumers’ purchasing power.

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