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Higher bond yields pressure tech stocks, but is there a glimmer of hope?

Paul Rickard
14 April 2022

The tech sector continues to be the worst-performing sector on the ASX. At the end of March, it showed a year to date loss of 13.7%. The biggest ASX sector, financials, which has a weighting of almost 29% of the S&P/ASX 200 index, was showing a positive return of 4.5%. Not surprisingly, energy and materials led the way with double-digit returns.

ASX Sector Performance to 31 March

But with bond rates rising again in April, the tech sector has moved back into the red. By the close of business on Tuesday, it had lost another 5.2% taking cumulative losses to 18.2% in 2022.

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