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Bank of America's Hartnett says higher rates are breaking tech, sell any bounce

Federal Reserve Chairman Jerome Powell testifies during the House Financial Services Committee hearing titled Oversight of the Treasury Department's and Federal Reserve's Pandemic Response, in Rayburn Building on Wednesday, December 1, 2021.
Tom Williams | CQ-Roll Call, Inc. | Getty Images

The Federal Reserve is losing the battle with inflation and will need to raise interest rates even faster than it is planning, a situation that endangers tech stocks in particular, said Bank of America's Michael Hartnett.

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