Thanks to persistent global slowdown and a strong dollar, the tech heavy Nasdaq Composite Index has been creeping closer to the bear territory, having shed about 18% from its all-time high recorded last July.

In fact, most of the tech heavyweight stocks have already fallen into a bear territory, losing more than 20% so far this year. These include Tesla Motors (TSLA –Analyst Report), Amazon (AMZN – Analyst Report), Netflix (NFLX – Analyst Report), Apple (AAPL – Analyst Report) and Cisco (CSCO – Analyst Report). The social networking firm LinkedIn (LNKD – Analyst Report) also witnessed a sharp meltdown of 46% on February 5, after reporting a wide earnings miss. With this, shares of LNKD are down 55% in the year-to-date timeframe (read: LinkedIn Crashes: Should You Connect with Social Media ETF?).