Tech bulls face worst December in 20 years as US Fed anxiety grows

Add to that weak results from chipmaker Micron Technologies Inc., and the session turned into a brutal one for equity bulls, who are again fretting over the risk of a potential recession

Technology stocks are headed for their worst December since the bursting of the dotcom bubble two decades ago as optimism about potential relief from Federal Reserve interest-rate hikes fades on signs of labour-market strength.

The Nasdaq 100 Index sank 2.5 per cent on Thursday after a report showed US jobless claims remained near historically-low levels, underscoring that the Fed has plenty of reasons to keep tightening policy.

Separate data showed a key inflation gauge was up slightly from the prior reading. 

Add to that weak results from chipmaker Micron Technologies Inc., and the session turned into a brutal one for equity bulls, who