Amazon.com Inc (NASDAQ:AMZN) stock is down Tuesday afternoon amid overall market weakness. The decline is being driven by a sharp increase in U.S. Treasury yields, which is hurting high-growth tech stocks. Investors are worried that higher interest rates will lower the value of these companies.
What To Know: The sell-off in growth sectors is directly linked to the ascent of the 10-year Treasury yield, which climbed to 4.29%. For companies like Amazon, which are valued based on the promise of robust future earnings, higher yields on government bonds present a significant headwind.
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