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That hurt tech stocks. For the past few weeks, the 10-year yield has traded between 1.72% and 2%, as traders moved into the bond for safety when Russia headlines were uglyβand out of it when headlines improved. Now, the yield is touching its pandemic-era high. If the yield breaks above that level, that could signal that itβs on a sustainable path higher. Higher long-dated bond yields make future profits less valuableβand many tech companies are valued on the basis of profits forecast for many years in the future. Andrey, a Russian entrepreneur living in Brazil who, fearing retaliation, asked that NPR not use his last name, said Telegram has become one of the few places Russians can access independent news about the war. For Oleksandra Tsekhanovska, head of the Hybrid Warfare Analytical Group at the Kyiv-based Ukraine Crisis Media Center, the effects are both near- and far-reaching. For tech stocks, βthe main thing is yields,β Essaye said. "He has kind of an old-school cyber-libertarian world view where technology is there to set you free," MarΓ©chal said.
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