Commodities
Global Bond Yields Fuel Sell-Off in Stocks Amid Rising Inflation Concerns
The S&P 500 Index and Dow Jones Industrial Average are down today due to soaring global bond yields, which are weighing on technology stocks.
Rising crude oil prices are also fueling inflation concerns as hostilities in the Middle East show no signs of easing.
The 10-year Japan JGB bond yield has risen to a 30-year high of 2.967%, while the 10-year German Bund yield is up to a 15-year high of 3.272% and the 10-year T-note yield has reached a 1.5-year high of 4.75%.
The sharp increase in bond yields has led to a sell-off in chipmaker stocks, with the iShares Semiconductor ETF down more than -5% and major chipmakers such as Intel and Micron Technology also experiencing significant declines.