I don't necessarily disagree with that statement but correlating this stock to the broader market is not so clear cut. I am undecided where I stand but lean more towards them not being SIGNIFICANTLY correlated.
Even if they are correlated and you assume it is down because of that, no excitement from that news? Point I am making and have been trying to make is that the underlying business is not the driver of share price here.
Also it is doubtful that this is already being priced in as it is still a ways out from being written into law. More likely they are down just because of rising bond yields. Many of these red days are and will continue to be a result of this.
To your point though, tech is suffering the brunt of this so could be partially from broader market.