Dow rises, big tech retreats as bond yields rise

Dow rises, big tech retreats as bond yields rise

Constellation Research founder Ray Wang on his outlook for technology stocks like Coupang and Roblox.

The Nasdaq opened sharply lower Friday morning as the 10-year yield neared its highest level of the year.

TickerSecurityLastChangeChange %I:COMPNASDAQ COMPOSITE INDEX13213.580482-185.09-1.38%

The tech-heavy composite dropped over 1.3%, while the S&P 500 declined 0.44%.

TickerSecurityLastChangeChange %SP500S&P 5003925.59-13.75-0.35%

The early weakness comes as aggressive selling of longer-dated U.S. Treasurys caused the 10-year yield to rise 7…

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