The rout in popular technology shares accelerated after the 10-year Treasury rate spiked as much as 23 points, fueling worry that the Federal Reserve will be forced to raise interest rates.
Tesla Inc. dropped 8% to erase its 2021 gains. The Ark Innovation ETF pushed its four-day rout past 15%. Peloton Interactive Inc. cratered 18% in the same time. Zoom Video Communications Inc. is on its longest-ever losing streak.