What happened 

Technology stocks reverted to their old ways this week and were declining as investors grew increasingly concerned that the Federal Reserve's commitment to interest rate increases could end up pushing the economy into a recession. 

Those fears caused the S&P 500 to tumble 2.8% and the Nasdaq Composite to fall 3.5% this week. They also dragged Shopify (SHOP -1.40%) down 10%, caused Salesforce (CRM 0.09%) to plunge 10%, and resulted in The Trade Desk (TTD -0.82%) falling 10.9% this week, according to data provided by according to data provided by S&P Global Market Intelligence.

Investors were also responding to less-than-stellar news for Salesforce news this week, and an analyst's downgrade for Shopify's stock. 

So what 

Investors were generally pessimistic as they considered Federal Reserve Chairman Jerome Powell's comments last week. Powell said the terminal rate -- the peak at which the Fed stops raising rates -- could be "somewhat higher" than originally planned. 

Powell's comments about slowing the intensity of interest rate hikes initially had investors cheering last week, but investors have grown pessimistic once again as the time draws nearer for another rate increase. 

The Fed will meet next week to decide on its next interest rate hike, which is likely to be a 50-basis-point increase. 

Shopify, Salesforce, and The Trade Desk investors are worried that rising interest rates will end up slowing the economy down too much and could eventually tip the U.S. into a recession

Those fears were compounded when the CEOs of Bank of America and Wells Fargo warned on Wednesday that they both believe there will be a recession next year and said that they were beginning to see consumer spending slow down. 

The Trade Desk investors were likely keeping a close eye on all of this news as the advertising industry has slowed down for many companies over the past several months. 

Although the company reported solid third-quarter results last month, investors are still concerned that an economic slowdown could hurt The Trade Desk's business. 

Shopify investors were also on edge this week after Wolfe Research analyst Deepak Mathivanan downgraded the company's stock to peer perform from outperform. The analyst said Shopify and the broader e-commerce market sector are vulnerable to slowing consumer spending.

Additionally, UBS initiated coverage of Shopify's stock on Thursday with a sell rating and a price target of $30, which likely didn't spur confidence in the stock. 

And Salesforce investors got another dose of bad news this week after Slack Technologies founder and CEO Stewart Butterfield said he is leaving the company in January. Salesforce purchased Slack for $27.7 billion last year. 

That news came on the heels of Salesforce's co-CEO Bret Taylor announcing last week that he is leaving his job after just one year. This is the second co-CEO to leave Salesforce since Keith Block left in 2020.

Now what 

The share price declines of Shopify, Salesforce, and The Trade Desk are yet another reminder that the stock market continues to be a very volatile place right now. 

And with the Federal Reserve poised to raise rates again next week -- and likely to continue doing so into 2023 -- investors can expect more share price swings ahead. 

That doesn't mean that Shopify, Salesforce, and The Trade Desk aren't good long-term investments though. If you're worried about their recent share price declines, it may be best to revisit your investment thesis, take into account any major changes with the companies since you bought the stock, and see if your original reasons for investing in the companies still hold true.