On Friday, shares of NVIDIA (NVDA.US) fell more than 4% to $225.71. The decline follows a significant rise in U.S. and Japanese government bond yields, prompting investors to reassess the valuation of risk assets. This move comes after major U.S. stock indices hit record highs, driven in part by rallies in AI leaders like NVIDIA. The yield on the 30-year U.S. Treasury surpassed 5.1%, while Japan's 10-year government bond yield climbed to a multi-year high. Soaring yields typically pose the greatest threat to high-valuation growth stocks, as a higher discount rate significantly reduces the present value of their future cash flows, which are often projected far into the future.
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