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Rising bond yields prompt $50b ASX bloodbath – Sydney Morning Herald
All local sectors were hammered as the benchmark ASX 200 index plunged 2.4 per cent to close at a near four-week low of 6673.3.
Rising bond yields prompted a tech sector bloodbath and wiped $50 billion from the Australian sharemarket on Friday, as local investors endured their worst trading session in about six months.
All local sectors were hammered as the benchmark ASX 200 index plunged 2.4 per cent to close at a near four-week low of 6673.3 points.
The fall mirrored the fortunes of Wall Streets major indices, where a reflation trade has sparked valuation concerns over tech mega-caps such as Apple, Microsoft, Apple and…
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