Nasdaq slides as long-end yields pressure chip stocks
The Nasdaq 100 fell 1.7% as 30-year Treasury yields held at 5.30% and rate-hike bets eased, while the optical and AI-hardware complex sold off sharply.
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Tech stocks slide as 30-year Treasury yield hits 2007 high
AMD falls 5%, Broadcom and Meta around 3%, and NVIDIA 2% as the 30-year Treasury yield reaches its highest level since 2007, pressuring tech valuations.