New Delhi, April 4 -- It wasn't long ago that counting on a mega cap tech stock to rise was a pretty safe bet, but that certainty has been turned on its head this year.

The tech-heavy Nasdaq Composite index has dropped 5.9% in 2026, partly from the uncertainty due to the Iran war.

A tech selloff isn't unusual when the market abruptly shifts into risk off mode, said John Belton, portfolio manager at Gabelli Funds. Investors will start looking for high beta and high valuation names to drop from their portfolios.

"Tech just kind of fits the shoot first, ask questions later profile of a stock that's going to be sold in this environment," Belton said.

Tech stocks were already under pressure before the Iran war started, however, because of ...