Amazon, Nvidia Lead $200 Billion Tech Selloff as Yields Rise
- All stocks in NYFANG+ index are in the red on Tuesday
- U.S. Treasury yields rise above 1.5% to three-month high
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Wall Street’s biggest technology companies are down more than $200 billion in market value in early trading as rising bond yields prompted investors to rotate out of pricey growth stocks.
All members in the $9 trillion-plus NYFANG+ index, which includes 10 highly liquid tech and internet stocks, were in the red. Nvidia, Apple and Amazon all fell at least 1.5% intraday.