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Asian Stocks Rise as Softer U.S. Inflation Boosts Sentiment Despite Middle East Tensions 
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Iraq PM Visits Washington as U.S. Oil, Gas Deals Take Center Stage 
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South Korea’s KOSPI Enters Bear Market Despite Remaining 2026’s Best-Performing Major Stock Index 
ASML Raises 2026 Outlook as AI Chip Demand Lifts Q2 Earnings 
Asian Currencies Stay Rangebound as Middle East Tensions, Weak China GDP Weigh on Sentiment 
Australia Consumer Sentiment Rises in July as Fuel Price Relief Lifts Confidence 
China Home Prices Fall Again in June Despite Slower Pace of Decline 
Infosys Shares Drop Amid Earnings Quality Concerns 
U.S. markets tumbled Friday as tech stocks led the selloff, with Apple, Tesla, and NVIDIA sliding amid a Treasury yield surge to 4.64%, sparking fears of inflation and higher borrowing costs.
Tech Stocks Lead Market Declines Amid Treasury Yield Surge
On Friday, U.S. stocks experienced a significant decline, with technology stocks leading the selloff. This decline was fueled by an increase in Treasury yields, Investing.com reports.
The NASDAQ Composite and the S&P 500 both had a 1.5–2% decline at 12:59 p.m. ET (17:59 GMT). A decline of 491 points, or 1.1%, occurred in the Dow Jones Industrial Average.
Apple Inc. experienced a decline of roughly 2%, only one day after reaching a new all-time high after receiving an upgrade from the tech-bull Wedbush on Thursday.
Apple, Tesla, and NVIDIA Stocks Decline
Tesla Inc. shares experienced a decline of 4.6%, while the stock of market darling NVIDIA Corporation experienced a slight decline of 2.9%.
During a significant downturn in the technology industry, Alphabet experienced a decline of more than 2%.
Treasury Yields Reach Multi-Month Highs
As a result of rising inflation fears and anticipation for a more hawkish Federal Reserve in 2025, the benchmark 10-year Treasury yield jumped to 4.64% earlier, its highest level since early May, sending tech prices down.
"The rise in long-term yields mostly reflects a stronger growth outlook but could also signal concerns about inflation and the federal budget deficit," DA Davidson said in a recent publication.
Higher Borrowing Costs Constrain Investments
When yields rise, borrowing costs rise as well. This can limit investments in R&D and growth, which in turn reduces profit margins.
As Bitcoin relinquishes its gains, Microstrategy drives crypto equities lower. Coinbase Global Inc. and other crypto-related stocks plummeted, with MicroStrategy Incorporated falling more than 3% after losing early-day gains.
Following Bitcoin's (BitfinexUSD) challenges to its gains after surpassing $97,000, the market experienced a fall afterward.
