First-quarter earnings were supposed to be an elixir for U.S. technology stocks, the sector that had fallen more than any other in the month before the reporting season began. Then Treasury yields spiked and spoiled it.
The S&P 500 Information Technology Index has fallen 5.3 percent in six consecutive down sessions, the longest streak of losses in a year. The retreat in the high-growth sector came as the 10-year Treasury yield spiked to 3 percent. The rout in technology is more than double the broader stock market's decline during the period.
Continue Reading for Free
Register and gain access to:
- Thought leadership on regulatory changes, economic trends, corporate success stories, and tactical solutions for treasurers, CFOs, risk managers, controllers, and other finance professionals
- Informative weekly newsletter featuring news, analysis, real-world cas studies, and other critical content
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the employee benefits and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
