Thursday, May 6

These tech stocks could be hit even harder if rates continue to rise, says Goldman Sachs

People walk by the New York Stock Exchange (NYSE) on the morning that the music streaming service Spotify begins trading shares at the NYSE on April 3, 2018 in New York City.

Spencer Platt | Getty Images

The recent jump in interest rates and rising fears of inflation could hit one group of stocks particularly hard, according to Goldman Sachs.

David Kostin, the firm’s chief U.S. equity strategist, said in a weekend note that tech companies that weren’t yet profitable seem to be bearing the brunt of the recent struggles for the stock market.

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