Rising long-term interest rates sparked by a fear of inflation sent technology stocks tumbling Thursday.
The Nasdaq Composite Index
fell 3.5%, while the even more technology-weighted Nasdaq-100 Index
which is tracked by Invesco QQQ Trust
dropped 3.6%. The Dow Jones Industrial Average
was down 1.8%, while the S&P 500 Index
pulled back 2.4%.
The Nasdaq-100 has now given up its entire gain for 2021 — declining 0.5% — while the other broader indexes listed above have all risen.
Illustrating a perceived rotation to value stocks amid rising interest rates and the indicated fear of inflation, the Russell 1000 Value index
has risen 6.1% in 2021, even after a 1.8% decline on Feb. 25. The Russell 1000 Value’s increase this year is more than twice the gain of the next-best performer among the broad indexes listed above, the Dow, which is up 2.6% this year.
Read: If you think it’s time to shift to value stocks, here are Wall Street’s favorites
The yield on 10-year U.S. Treasury notes
jumped 15 basis points on Feb. 25 to1.53%. That compares to a 10-year yield of 1.15% only three weeks earlier.
Worst Nasdaq-100 performers on Feb. 25
Here are the 20 stocks among the Nasdaq-100 that fell the most on Feb. 25:
Scroll the table to see all the data, including declines from all-time highs and the dates of those highs.
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