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SPAC, Hedge Fund, Growth Stock Pain Builds in $1 Trillion Rout

  • Growth on track for worst month versus value in over 20 years
  • Rising rates mark winners and losers throughout stock market
Photographer: Michael Nagle/Bloomberg

Casualties are piling up across the stock market as bond yields rise.

The Nasdaq 100, down for a sixth straight day, has lost nearly $1 trillion in value. Growth stocks, by one measure, are in the midst of their worst month since the dot-com days. Speculative areas of the market including SPACs and newly public companies are facing harsh blows. This all as benchmark 10-year Treasury yields have pushed to the highest level in a year.