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Chipmaker Selloff Weighs on Nasdaq 100 as Bond Yields Climb

The Nasdaq 100 declined as semiconductor stocks extended losses. Traders increasingly view the earlier rally as overextended. The pullback accelerated amid rising Treasury yields and inflation concerns tied to geopolitical tensions. Fixed-income markets came under pressure from these war-related risks. Wall Street's heavy concentration in chipmaker equities amplified the downturn. Investors reassessed valuations following gains from this year's lows. The sector shows sensitivity to yield movements and interest rate expectations. This matters particularly for capital-intensive technology manufacturers. Omar Aguilar, CEO and CIO at Schwab Asset Management, offered perspective on market dynamics as investors recalibrated risk positioning across equities and bonds.