Cathie Wood’s Ark ETF Extends Slump as Yields Slam High-Flyers
- ARKK drops in pre-market after worst performance of 2021
- Rising Treasury yields have taken the shine off tech stocks
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The spike in Treasury yields that’s rekindled inflation concern is continuing to cause trouble for some of the stock market’s highest flyers.
Cathie Wood’s flagship $28 billion ARK Innovation ETF (ticker ARKK) at one point dropped around 7% in early trading on Tuesday, poised to add to a 5.8% slide from a day earlier -- its worst performance of the year.