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A surge in the 30-year Treasury yield to near two-decade highs spooked tech investors Tuesday, sending the Nasdaq 100 down 1.6% in one of its worst sessions this summer. Chipmakers and AI infrastructure names got hit hardest โ AMD, Broadcom, and Semtech all fell notably, piling on top of the Fabrinet (FN) earnings shock. The S&P 500 closed down 0.5% while the Dow barely budged, highlighting how concentrated the pain was in tech. Not financial advice. Are rising yields the real kryptonite for the AI trade, or is this just a healthy shake-out?
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