Higher yields are taking their toll on all areas of the stock market, except the one that matters

As Treasury yields soar to multi-decade highs, most sectors of the S&P 500 have struggled, but technology has bucked the trend and seen gains since September 1. This divergence suggests that investors might be favoring tech stocks over others due to their growth potential, despite the rising interest rates that typically hurt stock prices. The resilience of the tech sector amid these economic shifts could signal a shift in investor sentiment or a belief that tech companies can weather the inflationary pressures that are impacting other sectors.