Shares of Google parent Alphabet (NASDAQ: GOOGL)(NASDAQ: GOOG) took a 24.8% header during the first half of 2022, according to data from S&P Global Market Intelligence. In response, the Federal Reserve has started aggressively raising interest rates in an attempt to cool off the economy, which in turn would cool off prices. As a reminder, higher interest rates lower the present value of risk assets like stocks.
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