Nasdaq 100 Slides as 10-Year Yield Hits Highest Since 2023
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The Nasdaq 100 came under renewed selling pressure as the 10-year Treasury yield climbed to its highest level since 2023, squeezing valuations on rate-sensitive growth and tech names that dominate the index.
Rising crude oil prices added to the inflation narrative, reinforcing the higher-for-longer rate outlook that historically weighs on high-multiple Nasdaq 100 constituents more than value-oriented peers.
Fresh tensions surrounding AI-linked stocks compounded the move, as investors reassessed lofty valuations across the sector that has driven much of the index's recent gains.