Amazon.com, Inc. (NASDAQ:AMZN), Apple Inc (NASDAQ:AAPL) and NVIDIA Corporation (NASDAQ:NVDA) shares all are trading lower amid overall market weakness. Russia-Ukraine uncertainty and an expected Fed rate hike have weighed on stocks,
Shares of companies in the broader tech sector are also trading lower after the 10-year US Treasury yield is hovering around a two-year high, which has pressured valuations. The 10-year Treasury yield hit an intraday high of 2.138% Monday morning before dipping to around the 2.110% level. When interest rates rise, the value of future cash flows is reduced for growth stocks, which in turn lower the value of the stock.
