The Stock Market Today: Nasdaq Sinks As Treasury Yields Jump; Nvidia, Micron, Sandisk All Tumble (Live Coverage) The recent surge in Treasury yields, which reached multi year highs on Tuesday, has sent shockwaves through the stock market.
The tech sector, in particular, is feeling the pinch. Rising Treasury yields are often associated with economic growth.
When investors become more confident in the economy's prospects, they tend to favor riskier assets like stocks over safer ones like bonds.