Tech traditionally starts the year on an upbeat note, with the CES consumer electronics show in Las Vegas revealing new trends and displaying the bling of “the next big things” in gadgets to look forward to in the coming months.
However, the mood is anything but optimistic at the start of this week, with the tech-heavy Nasdaq entering correction territory as growth stocks take a hit from an expected rise in interest rates, while a much-reduced CES ended in low-key fashion on Friday.
Attendance was way down — about 45,000 people came compared to 170,000 at the Covid-free 2020 CES (the show was an online-only event a year ago). Many tech companies had pulled out, while numerous media outlets decided to cover the show remotely.
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