Tech Stocks Decline as U.S. Treasury Yields Reach New Highs

Major U.S. tech stocks, including Apple, Microsoft, and Nvidia, experienced a notable drop as U.S. Treasury yields hit their highest levels since 2007. The rising yields are causing concerns about future profitability in growth sectors like technology, which have benefitted from low-interest rates over the past decade. Investors are increasingly shifting funds toward safer, fixed-income assets, leading to a broader sell-off in the equities market.