Wall Street: Interest rates becoming a risk, tech sector under pressure
The yields on government bonds continue to rise, with 30-year US Treasuries reaching their highest level in 19 years. This is particularly weighing on the technology sector.
US stock markets, particularly the tech sector, are under pressure due to rising government bond yields. The 30-year US Treasury yield has reached 5.32%, its highest level in 19 years, while the 10-year yield has climbed to 4.73%. Companies such as Home Depot, Fabrinet, and Baidu have reported mixed results, with Home Depot beating expectations but Fabrinet being sold off due to weak datacom sales.
Baidu's AI cloud business grew 50%, but its traditional business shrank and earnings missed expectations. Bank of America has defended Nvidia, calling the stock attractive despite increasing risks.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
