🔴 Infineon Technologies is trading 4% down today as higher Treasury yields pressure semiconductor stocks

Infineon Technologies is trading 4% lower at $63.80 as higher Treasury yields and broad risk-off trading pressure semiconductor and growth stocks.

• The Nasdaq Composite is down 0.76%; the S&P 500 and Dow are also lower.
• The 10-year Treasury yield is 5.14%, with investors reacting to strong economic activity and persistent inflation concerns.
• Infineon’s earlier $1.12 billion NOR Flash and F-RAM divestment remains relevant background; no new company-specific catalyst was identified for September 24.