MarketPR
Software-as-a-service equities rallied in the afternoon session after the benchmark 10-year Treasury yield retreated from its recent peak, the highest level since 2002.
CNBC reported that this decline in yields attracted dip-buyers back into the market following a sharp sell-off in artificial intelligence and broader technology stocks during previous sessions.
The move helped stabilize market sentiment as capital rotated back into quality software names, with major averages including the tech-heavy Nasdaq moving higher.
The previous session had seen heightened selling pressure across the AI and technology sectors, which CNBC noted rattled investor confidence regarding near-term monetization and the heavy debt burdens funding the AI industry.
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