Tech Stocks Influence Market; Treasury Bonds Continue to Surge: Yahoo Finance

In a tumultuous day for the markets, technology stocks continued to weigh heavily on Wall Street as investors grappled with concerns over rising interest rates and inflation. The tech-heavy Nasdaq Composite fell sharply, dragging down the broader market indices.

At the same time, Treasury yields extended their recent rally, with the yield on the 10-year Treasury note hitting a fresh one-year high. This surge in yields has sparked fears of a potential tightening of monetary policy by the Federal Reserve, which could further pressure stocks.

The sell-off in tech stocks was particularly pronounced, with high-flying names like Apple, Amazon, and Microsoft all seeing significant declines. Investors have been rotating out of growth stocks and into value plays in recent weeks, as concerns over lofty valuations and inflation have mounted.

Despite the weakness in tech, other sectors managed to hold up relatively well. Energy stocks were a bright spot, buoyed by rising oil prices. Financials also outperformed, as banks stand to benefit from higher interest rates.

Overall, the market remains in a state of flux as investors try to navigate the crosscurrents of a resurgent economy, rising inflation, and shifting monetary policy. With uncertainty still looming, traders are bracing for continued volatility in the days ahead.