XLK is trading 1.62% down today as a global bond selloff drives yields higher, increasing the appeal of safer assets and raising discount rates for technology companies.
- Japan’s 10-year government bond yield reached 3% for the first time since 1996.
- Higher oil prices intensified inflation concerns and expectations for tighter monetary policy.
- NVIDIA’s strong results and near-9% gain provide some offset, while upcoming JOLTS and manufacturing data keep investors focused on U.S. rate risk.