Shares of technology companies fell as Treasury yields continued a blistering run.
The tech sector is vulnerable to movements in Treasury rates because of valuation methods for high-growth sectors.
"Rates have moved and are moving so much that everything is a moving target right now," said Lorenzo Di Mattia, manager of hedge fund Sibilla Global Fund.
Salesforce.com shares rose after the maker of cloud-based business software targeted a long-term increase in a key measure of profitability. Samsung's de facto chief Lee Jae-yong and SoftBank Group Chief Executive Masayoshi Son were set to meet in Seoul next month to discuss a potential partnership involving Softbank-controlled chip designer Arm, in what could become a powerhouse union between two of the world's semiconductor giants.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
09-22-22 1719ET
