The Nasdaq 100 is in a correction, down over 10% from its peak. Tech is getting hit from macro pressures (higher yields, oil) and sector-specific AI disruption fears. Higher oil and rates compound to create a multiple compression environment for growth stocks. The sector is also facing idiosyncratic disruption scares (e.g., AI in cybersecurity, memory chips). In the near term, tech is not a safe haven and is exposed to both macro and micro headwinds. A rapid de-escalation in Iran could bring down oil and yields, relieving the macro pressure. Strong earnings revisions could also provide support.