US Tech Stocks Hit Record High Amid Rising Treasury Yields
US tech stocks, led by the Nasdaq, surged over 1% to a new record high on Monday. This occurred despite a significant increase in long-term Treasury yields, which climbed to levels not seen since 2002.
Sovereign bond markets were unable to catch a break, even as US tech shares kept advancing. On Monday, trading on Wall Street was notable because the tech-heavy Nasdaq rose more than 1% to a fresh record, while long-term Treasury yields climbed again to levels not seen since 2002. There were n…