Tag: Spike

Tech Stocks Are Getting Crushed as Bond Yields Spike Higher

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The Nasdaq Composite has fallen by close to 7% since Monday.


Dreamstime

Tech stocks are suffering fresh losses on Thursday, as spiking bond yields continue to spur investors to move out of cloud, e-commerce, and semiconductor stocks and into other more economically sensitive—and cheaper—issues.

The group started the day in the green, but reversed course when comments by Federal Reserve Chairman Jerome Powell at The Wall Street Journal Jobs Summit triggered a new upward move in interest rates.

The yield on 10-year Treasuries now sits at about 1.54%, up from under 1% at the beginning of the

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