Surging Treasury yields batter ARK fund amid broad tech selloff

Published by
Reuters

By Lewis Krauskopf NEW YORK (Reuters) – A broad selloff in technology and growth names battered the flagship fund of star stock picker Cathie Wood’s ARK Invest, as investors shifted away from tech shares amid a sharp rise in Treasury yields. The ARK Innovation ETF, which had $21.4 billion in assets as of last week, according to Refinitiv, fell 4.2% on Tuesday. That drop outpaced a 2% swoon for the benchmark S&P 500, its biggest one-day percentage decline since May, and a 2.8% fall for the tech-heavy Nasdaq, its biggest one-day decline since March. Losses for the ARK fund have accelerated in re…

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