Destiny Tech100 Inc., tracked by the DXYZ ETF, is experiencing significant downward pressure due to a confluence of market factors affecting the tech sector. The recent Federal Reserve decision has led to increased volatility, with tech stocks particularly sensitive to interest rate changes. Additionally, the broader market sentiment has been impacted by concerns over slowing economic growth and potential regulatory challenges facing major tech companies. These factors have contributed to a cautious outlook among investors, leading to reduced demand for tech-focused assets.
The DXYZ ETF is down 9.45% in pre-market hours on Friday, December 20, falling to $54.43 as of 7:45 AM ET.