Treasury yields fall as investors seek safety during tech stock rout

Treasury yields sank Thursday as investors sought safe havens during a tech stock rout, cooling from multi-decade highs reached in recent weeks. The move down in yields came despite back-to-back hot inflation readings this week, signaling investors are prioritizing shelter from stock volatility over rate concerns. A sell-off in chip stocks wiped about $1 trillion from the sector. The shift marks a return to the traditional inverse relationship between stocks and bonds, which had broken down recently. Dovish Fed comments helped ease interest rate panic, though investors still price in a 91% chance of another rate hike this year.