Treasury Yields Top 5%: These 20 Stocks Tanked In Just One Hour

A sharp jump in Treasury yields following Wednesday's weak 20-year bond auction triggered a swift market reaction, with several high-growth and tech names plunging between 1:05 p.m. and 2:05 p.m. ET—the exact window 30-year yields spiked above 5.08%.

Tempus AI Inc. TEM led the decline, falling 6.9%, followed by Hims & Hers Health Inc. HIMS, which dropped 5%, data from Benzinga Pro platform shows.

AI infrastructure firm CoreWeave Inc. CRWV slid 4.4%, while Bitcoin-linked Strategy Inc. MSTR tumbled 4.3%.

Trading platform Robinhood Markets Inc. HOOD lost 3.7%.

The selloff came as investors repriced risk across equities amid fears of persistently higher rates, sparked by soft demand at the 20-year Treasury auction.

The bid-to-cover ratio of 2.46 landed near the bottom quartile of the past 50 auctions, with the iShares 20+ Year Treasury Bond ETF TLT, sliding to a 19-month low.

Notable losers among the 20 movers with at least $10 billion market cap also included Palantir Technologies Inc. PLTR, Coinbase Global Inc. COIN and Nvidia Corp. NVDA, with declines of 3.1%, 2.9% and 2.7%, respectively.

Semiconductor names also came under pressure, as ON Semiconductor Corp. ON fell 2.8%, while Super Micro Computer Inc. SMCI lost 3% during the hour-long selloff. Other high-beta tech stocks such as Credo Technology Group Holding Ltd. CRDO and Mobileye Global Inc. MBLY each dropped over 3%, reflecting broad-based risk aversion triggered by the Treasury market spike.

The weakness extended into biotech and aerospace sectors as well, with Summit Therapeutics Inc. SMMT and Rocket Lab USA Inc. RKLB down 2.7% and 3.5%, respectively.

Wall Street Extend Lows

The S&P 500 Index, tracked by the SPDR S&P 500 ETF Trust SPY, deepened losses, falling 1.3% by 2:17 p.m. ET, while small caps were hit harder, with the Russell 2000 plunging 2.4%.

All S&P 500 sectors traded in negative territory, led by real estate, which dropped 2.7% under pressure from rising yields.

Gold miners, tracked by the VanEck Gold Miners ETF GDX, were the only industry group holding gains, supported by a rise in bullion prices as investors sought safety amid Treasury volatility.

The clean energy industry was the day's worst performer, with the Invesco WilderHill Clean Energy ETF PBW sliding 3.4%.

Read now:

• Tesla Enters Its Most Bullish Window: This Seasonal Trade Delivered 24% Average Gain Over 10 Years
  

Photo: Shutterstock