IGV is trading at $107.23 (-2.50%) as a global bond selloff pressures long-duration software valuations, with Japan’s 10-year yield reaching 3%, its highest since 1996.
- Elevated U.S. Treasury yields and hawkish Federal Reserve messaging are increasing expectations for higher-for-longer interest rates, weighing on growth stocks.
- Broader risk-off trading is also evident, with the Nasdaq Composite down 1.03% and S&P 500 down 0.66%.