Stocks that were hammered at the end of 2021 are getting trounced again in the new year.
From expensive software makers to newly minted stocks, losses deepened Tuesday as a spike in 10-year Treasury yields renewed investor fears that higher interest rates would weigh on valuations. The ARK Innovation exchange-traded fund (ARKK), the poster-child of the frenzy over hyper-growth names, tumbled 5.4%, while a basket of profitless technology shares plunged almost 6%.