Nasdaq 100 Slides 1.7% as Bond Yields Spike, Chip Stocks Tumble
NDX sits 29% above its 52-week low of $22,841.417.
Summary
The Nasdaq 100 fell 1.7% on Tuesday, extending losses to a third straight day, as a spike in long-term bond yields pressured growth stocks. The 30-year Treasury yield touched 5.34% and the 10-year hit 4.75%, the highest since 2025, driven by fiscal concerns and heavy debt issuance. Chip stocks led the decline, with the Philadelphia Semiconductor Index down 5% and Nvidia off 2.3%. Energy was the bright spot, with the S&P 500 Energy Sector closing at an all-time high on geopolitical risk. Fed minutes due Wednesday may clarify the central bank's reaction function amid rising yields.
At the time of this announcement, NDX was trading at $29,490.96 on NASDAQ in the Technology sector. The 52-week trading range was $22,841.42 to $30,762.20. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Moneycontrol.