By Daragh Thomas
Publication Date: 2026-08-18 15:42:00
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Advanced Micro Devices Inc. (NASDAQ:AMD) fell 5% Tuesday, with Broadcom Inc. (NASDAQ:AVGO) and Meta Platforms Inc. (NASDAQ:META) both around 3% and NVIDIA Corp. (NASDAQ:NVDA) off 2%, as the 30-year Treasury yield hit its highest level since 2007.
This is not a broad rout. The Invesco QQQ Trust lost 1.4% and the VanEck Semiconductor ETF dropped 4.3%, while the equal-weight S&P 500 edged up 0.2%. The pain is heavily concentrated in tech and AI names.
Why Rising Yields Hit Tech Hardest
The mechanics are straightforward. Higher yields make future earnings worth less today, and tech valuations lean heavily on earnings far in the future. They also make the enormous AI infrastructure buildout more expensive to finance.
Bokeh Capital’s Kim Forrest told Reuters that higher yields mean a tighter borrowing environment, a particular…