Shares of companies in the broader technology sector, including Apple Inc (NASDAQ:AAPL), Advanced Micro Devices, Inc. (NASDAQ:AMD), Microsoft Corporation (NASDAQ:MSFT) and NVIDIA Corporation (NASDAQ:NVDA), are all trading lower amid overall market weakness following the collapse of Russia-Ukraine ceasefire talks.
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 2.013% Thursday morning before dipping to around the 2.002% 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.
Apple is trading lower by 3.92% at $156.57.
AMD is trading lower by 6.65% at $103.67.
Microsoft is trading lower by 2.56% at $281.11.
Nvidia is trading lower by 4.57% at $219.63.
