IIf volatility is your cup of tea, then you’ll like the Nasdaq 100. The big tech index slashed $1 trillion from its value in recent market sessions, giving traders an opportunity to play lower.

That said, it’s been nothing short of a roller coaster ride for Nasdaq 100 investors. According to a Yahoo Finance! article, “The tech-heavy benchmark has now seen more than $1 trillion evaporate from peak to peak every month this year, as monetary policy tightening and surging bond yields are causing investors to worry that the economy is headed for a recession.”

Big tech is falling victim to the normal market pangs that everyone experiences these days, including inflation. All eyes will be on the US Federal Reserve and how hawkish it will become with interest rates as more economic data reveals just how badly the economy is turning.

Overall, the Nasdaq 100 is down 14% on the year. By mid-March, it looked like it might turn the tide before inflation fears snuffed out its rebound.

“It’s too early to turn positive on US tech stocks,” said Edmund Shing, chief investment officer of BNP Paribas Wealth. “There are more downsides probably in the very short term.”

Running out of Big Tech

Given this year’s weakness, traders looking for reverse plays in the big tech sector can opt for Direxion Investments’ triple leverage opportunities. One of these opportunities is the Direxion Daily Technology Bear 3X ETF (TECS)up more than 30% this year.

TECS targets daily investment results, before fees and expenses, of 300% of the inverse (or opposite) of the daily performance of the Technology Select Sector Index. The index is provided by S&P Dow Jones Indices and includes national technology companies.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.