Shares of several companies in the broader technology sector, Affirm Holdings Inc (NASDAQ:AFRM), Enphase Energy Inc (NASDAQ:ENPH) and Zoom Video Communications Inc (NASDAQ:ZM), are trading lower amid a rise in US Treasury yields.
When interest rates rise, the value of future cash flows is reduced for growth stocks, which in turn lower the value of the stock. The 10-year US Treasury yield is hovering around a two-year high at 2.500% Friday morning, which has pressured valuations.
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- Affirm is trading lower by 9.0% at $40.78. Affirm has a 52-week high of $176.65 and a 52-week low of $26.02
- Enphase Energy is trading lower by 4.8% at $188.44. Enphase Energy has a 52-week high of $282.46 and a 52-week low of $108.88
- Zoom is trading lower by 4.4% at $112.58. Zoom has a 52-week high of $406.48 and a 52-week low of $94.51
