Shares of companies in the broader tech sector, including Palantir Technologies Inc (NYSE:PLTR), are trading lower amid a rise in bond yields, which has weighed on growth stock valuations. Weakness is also in sympathy with the overall market as investors react to minutes from the Fed's FOMC meeting, which 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 1.712% early Wednesday afternoon before dipping to around the 1.702% level. Overall market volatility is persistent again during Wednesday's session as investors continue to weigh omicron concerns.
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Palantir Technologies provides organizations with solutions to manage large disparate data sets in an attempt to gain insight and drive operational outcomes.
Palantir Technologies has a 52-week high of $45.00 and a 52-week low of $16.87.
