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Tech Down On Interest Rate Concerns -- Tech Roundup

09/27/2021 | 05:23pm EST

Shares of technology companies fell as the yield on the 10-year Treasury note closed at the highest level since June.

The tech sector is disproportionately affected by movements in the Treasury markets, partly because investors adjust risk exposure based on Treasury yields.

More than 1 billion people now use TikTok every month, the latest milestone in user growth for Chinese video-sharing app.

Facebook is pausing development of its Instagram Kids platform, Instagram head Adam Mosseri said Monday.

Alphabet's Google started its appeal to overturn a $5 billion antitrust fine imposed by the European Union, contending that its Android operating system for mobile devices has boosted competition rather than foreclosing it.

Cryptocurrency prices were stable after a rout Friday inspired by China's latest crackdown on the niche.

Shares of Huobi Technology Holdings, a unit of Chinese Huobi Global that operates a virtual-asset service platform, fell sharply.

Write to Rob Curran at rob.curran@dowjones.com

(END) Dow Jones Newswires

09-27-21 1722ET

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