Shares of streaming, gaming and social media stocks, including Snap Inc SNAP are trading lower as a rise in yields weighs on growth sectors for the session.
The 10-year Treasury yield hit an intraday high of 1.624% Monday afternoon before dipping to around the 1.600% level. The spike in the 10-year note Monday comes after President Biden renominated Federal Reserve Chairman Jerome Powell for a second term.
Snap, which refers to itself as a camera company, has one of the most popular social networking apps, Snapchat, in developed regions such as North America and Europe.
Snap has a 52-week high of $83.34 and a 52-week low of $42.22.
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