Recently, the rebound in US bond yields has led to a tragic sell-off of technology stocks. Chamath Palihapitiya, founder and CEO of Social Capital, revealed that he sold Tesla's shares to obtain funds for other investments. In addition, "the god of stocks" Wood sold nearly $270 million of Tesla's shares on Tuesday.
With the rapid rise in U.S. bond yields, the U.S. stock technology sector has been hit. Overnight, the yield on the 10-year U.S. Treasury fell, and the closing price remained above the important 1.5% mark. The Nasdaq Index continued its previous decline, closing down 0.24% overnight.
The sharp rise in interest rates in the past two weeks seems to be the biggest factor in the sell-off of US stock technology companies. According to Goldman Sachs on September 29, since September 14, the 10-year U.S. Treasury yield has risen by 26 basis points with a standard deviation of 1.4, and the 10-year TIPS yield has risen by 20 basis points with a standard deviation of 1.4. 1.7.
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