Shares of companies in the broader technology sector, including NVIDIA Corporation (NASDAQ:NVDA), Micron Technology, Inc. (NASDAQ:MU) and Advanced Micro Devices, Inc. (NASDAQ:AMD) are trading lower after the 10-year US Treasury yield reached a two-year high, which has pressured valuations.
The 10-year US Treasury yield reached a high of 1.84% on Tuesday at the time of publication. This rise in US Treasury yields has pressured growth sectors.
NVIDIA shares were trading about 3% lower at $261.31 per share at the time of publication.
Micron shares were trading about 3% lower at $94.49 per share.
AMD shares were trading about 2.4% lower at $133.62 per share.
