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Tech Down as Treasury Yields Rise -- Tech Roundup

09/22/2022 | 05:20pm EST

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

Stocks mentioned in the article
ChangeLast1st jan.
SALESFORCE.COM, INC. 5.65% 160.25 Delayed Quote.-36.94%
SOFTBANK CORP. -1.50% 1475 Delayed Quote.2.96%
SOFTBANK GROUP CORP. 1.60% 6047 Delayed Quote.9.53%
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