Semiconductor Index Slumps 11.4% as US Treasury Yields Surge to 5.33%

Key Facts

1The Semiconductor Index dropped 11.4% this week, marking its largest weekly loss in a significant period.

2Ten-year Treasury yields surged 12 bps to 5.33% following a disappointing CPI report.

The Semiconductor Index dropped 11.4% this week, marking its largest weekly loss in a significant period. Seeking Alpha reported that the sharp decline reflects a massive sell-off across the high-growth technology sector.

Ten-year US Treasury yields surged by 12 basis points to reach 5.33% following a disappointing CPI report. The inflation data fueled expectations of higher-for-longer interest rates, triggering a rotation out of tech stocks and into higher bond yields.