Rising long-term interest rates triggered by inflation fears sent tech stocks tumbling Thursday. The Nasdaq Composite Index COMP, -3.52% fell 3.5%, while the Nasdaq-100 Index NDX, even more weighted by technology, -3.56%, which is followed by Invesco QQQ Trust QQQ, -3.49%, fell 3.6%. The Dow Jones Industrial Average DJIA, -1.75% fell 1.8%, while the S&P 500 NDX index, -3.56% fell 2.4%.
The ARK Innovation ETF ARKK, -6.37%, the high-flying technology-oriented exchange-traded fund with Tesla Inc. TSLA, -8.06% as its largest holding, skidded 6.4%. The Nasdaq-100 has now given up all of its gain for 2021, declining 0.5%, while the other broader indices listed above have risen. Illustrating a perceived turnover to value stocks amid rising interest rates and indicated fear of inflation, the Russell 1000 Value RLV Index, -1.99% has risen 6.1% in 2021, even after a 1.8% drop on February 25. The Russell 1000 Value’s This year’s gain is more than double the gain of the next best performer among the overall indices listed above, the Dow, which is up 2.6% this year. Read: If you think it‘s time to switch to value stocks, here are Wall Street favorites. The yield on 10-year US Treasury notes TMUBMUSD10Y, 1,474% rose 15 basis points on February 25 to 1.53%. That compares with a 10-year yield of 1.15% just three weeks earlier. The worst Nasdaq-100 results on February 25 Here are the top 20 stocks on the Nasdaq-100 that fell the most on February 25: Scroll the table to see all the data, including declines from all-time highs and dates of those highs. Don’t Miss: This stock fund may be for you if you want to get a good night’s sleep and still make money.