Tech sell-off leads US stocks lower and 10-year yield sinks

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Financial Times 3d ago

Tech sell-off leads US stocks lower and 10-year yield sinks - Financial Times

Quick Summary:

Two-year yields, which closely track interest rate expectations, fell 0.18 percentage points to 4.15 per cent.

Every Magnificent Seven stock except Meta ended lower, and all but one company on the Philadelphia Semiconductor index — which tracks 30 stocks in the sector — declined as it had its worst day since 2020 with a 7.1 per cent loss.

Meanwhile, yields on the benchmark 10-year Treasury, a crucial barometer for expectations on the US economy, fell below 4 per cent for the first time in six months.