“Inflation remains elevated, reflecting supply and demand imbalances related to the pandemic, higher energy prices, and broader price pressures,” the Fed said in a statement… Read More

Following the Fed decision, the 10-year US Treasury yield has spiked, which has continued to pressure valuations in 2022. The 10-year Treasury yield hovered around a 5-year high of 3.495% Thursday morning before dipping to around the 3.398% level. 

When key interest rates rise, the value of future cash flows is reduced for growth stocks, which in turn lowers the value of the stock.

See Also: Federal Reserve Raises Interest Rates by 0.75%, Hikes Inflation Estimates

According to data from Benzinga Pro, AMD has a 52-week high of $164.46 and a 52-week low of $78.96.