Technology stocks have gotten clobbered this year, and investor attention has focused on rising interest rates as the reason behind it. But that’s not the whole story, says Bloomberg Intelligence Chief Equity Strategist Gina Martin Adams.

On this episode, she helps dissect the shifting leadership in the U.S. stock market and shares her thoughts on an upcoming earnings season that—thanks to inflation, supply chain chaos and other pandemic fallout—remains shrouded in mystery.