Shares of semiconductor and chip companies, including Advanced Micro Devices, Inc. (NASDAQ:AMD) and Micron Technology. Inc. (NASDAQ:MU) are trading lower amid a continued selloff in the broader technology sector, which has been driven by a rise in yields and concerns of Fed tapering policy.
The 10-year treasury yield increased closed yesterday's session around 1.73% and opened today's session at around 1.77%. The rate was around 1.75% at the time of publication.
