17 April 2024
1300 794 893
Unsplash Image

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.

Sign up to the Switzer Report to read the full article.

Get the latest financial, business, and political expert commentary delivered to your inbox.

When you sign up, we will never give away or sell or barter or trade your email address.

And you can unsubscribe at any time!
1300 794 893
© 2006-2021 Switzer. All Rights Reserved. Australian Financial Services Licence Number 286531. 
shopping-cartphoneenvelopedollargraduation-cap linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram