11 Apr '22 at 8:33 am #35358
The S&P 500 continues to trade lower by 0.8% amid little interest to buy the dip.
The mega-caps are exerting key weakness on the benchmark index with the Vanguard Mega Cap Growth ETF (MGK 223.49, -4.25, -1.9%) down roughly 2%.
The mega-caps are feeling the burden of higher interest rates, which factor negatively in valuations. The 10-yr yield is currently up four basis points to 2.75% on top of last week’s 34-basis-point increase.