The Nasdaq is down 60-plus percent, and some say it'll never recover. For a while there, it really did seem like a new era.
Times are tough, no doubt about it.
First, a look at the big picture. While the valuations of onetime darlings like Amazon and Cisco got way ahead of themselves, tech mania has helped pave the way for future gains in corporate America. The pressure on companies to develop and adapt to new technologies has made them far more nimble. Even though tech accounts for a relatively small percentage of gross domestic product, it has been responsible for much of GDP growth in recent years. But now tech is in real trouble.