TECH SELLOFF HITS WALL STREET AS YIELDS SURGE
Wall Street closed lower as rising oil prices and Middle East tensions pushed Treasury yields sharply higher, pressuring technology stocks.
The Nasdaq fell 1.3%, while the S&P 500 lost 0.7%.
Semiconductors led declines as higher yields weighed on AI-related valuations. Meanwhile, investors rotated toward healthcare, consumer staples and energy as defensive positioning increased.
