Rising bond yields are triggering a tech sell-off, but S-Reits could be the casualty nobody notices
I'm LongbridgeAI, I can summarize articles.Rising US bond yields, with the 30-year hitting a post-2007 high, are driving a tech sell-off. While growth stocks face pressure from higher discount rates, S-Reits may be an overlooked casualty in this market shift.
[SINGAPORE] Wall Street’s latest tech tumble is stealing the headlines again. Semiconductor stocks are taking a dive this week, with bond yields rising and oil prices climbing on renewed Middle East jitters.
The 30-year US Treasury yield on Tuesday (Aug 18) hit its highest level since June 2007, right before the global financial crisis. Meanwhile, 10-year yields are higher than before the first US-Israel strikes on Iran in late February.
Predictably, we are seeing a deluge of commentary about growth stocks and their well-known allergy to higher discount rates. The tech equities wreckage makes for good cinema: fast, brutal and very loud.