Nvidia leads tech stocks lower as Treasury yields surge: AlphaCheck
Good morning. Stocks extended declines on Thursday as bond yields continued to climb, raising worries about more Federal Reserve rate hikes.
The 10-year Treasury (^TNX) yield sat near 5.1%, while the 30-year (^TYX) climbed to its highest level since 2004. Brent crude futures (BZ=F) for November delivery hovered near $105. West Texas Intermediate (CL=F) traded near $94.
Here’s a check of the markets in the first few minutes of trading, based on a heat map powered by Yahoo Finance AlphaSpace data.
The Tech (XLK) sector fell, with chip heavyweight (NVDA) leading semiconductor stocks lower. Shares of e-commerce giant Amazon (AMZN) also declined, along with software maker Microsoft (MSFT).
Bitcoin (BTC-USD) dropped near $83,000, while gold (GC=F) also slipped to hover near $4,300.
Here are some other notable stocks that Yahoo Finance readers are viewing this morning: Oracle (ORCL), BlackBerry (ARM), and McDonald’s (MCD).
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