XLK is trading at $183.39, down 1.67% from the August 31 close, as rising Treasury yields pressure technology shares.
- Nasdaq futures were down 1.30%, while the 10-year Treasury yield reached approximately 4.78%, pressuring growth-stock valuations.
- Renewed U.S.-Iran tensions, firmer oil prices, and Japan’s 10-year yield reaching 3% amplified concerns about global borrowing costs and inflation.
- No stronger company-specific catalyst appears to explain the sector-wide decline.