Big Nasdaq-100 Stocks Sell Off To Support Levels: Apple, NVIDIA, Tesla

The major tech and social media components of the Nasdaq-100 got dumped this week as investors grappled with the meaning of even higher Treasury yields and the increasing price of oil. The sense that the stickiness of inflation may continue to stick is an unsettling factor for the actively traded equities that make up the index.

With the 10-Year Treasury note now yielding 5% and with West Texas Intermediate Crude back up to $90 a barrel, it’s tough to make a case that serious inflation is about to become less serious. The unpleasantness of what might ensue is leading to the selling of big stocks that were until recently pursued with a vengeance.