Stocks Got Rocked. Bonds Picked Up Some Slack

Stocks Got Rocked. Bonds Picked Up Some Slack

Chipmakers and other tech names got absolutely rocked today starting at the 9:30am NYSE open. Hedge funds dumped semiconductors like a bad habit early and often (Sandisk down 20% anyone?!), and with tech comprising so much of the 2026 growth story, the rest of the stock market followed suit. Bonds were a hair weaker at 9:30am, but that rapidly changed due to the magnitude of the equity market exodus. Still, 10yr yields falling a mere 5-6bps is pretty underwhelming considering stocks had their worst day in over a year and hit their worst levels since April (NASDAQ specifically). Friday's jobs report is still a contender for volatility although any major swings in stocks should set the tone.