Why AMD And Nvidia Shares Are Falling Today

Shares of several companies in the broader tech sector, including Advanced Micro Devices, Inc. AMD and NVIDIA Corporation NVDA are trading lower, pulling back following a recent rebound. The sector has been under pressure in the new year amid a recent rise in Treasury yields, which has weighed on growth sectors.

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Shares of growth stocks have been pulling back in recent sessions following a reaction last week to minutes from the FOMC meeting. Minutes showed most Fed members viewed conditions for rate hikes as potentially being met relatively soon.

The 10-year Treasury yield hit an intraday high of 1.761% Thursday afternoon. Overall market volatility is persistent again during Thursday's session as investors continue to weigh omicron concerns.