The recent stock losses, led by the tech-heavy Nasdaq, can be attributed to disappointing Big Tech earnings reports and rising bond yields. Tech stocks are facing pressure as concerns grow about high valuations in the face of surging Treasury yields. Additionally, the benchmark 10-year yield fell after the US economy grew at its fastest pace in nearly two years, despite the Federal Reserve’s higher interest rate mantra. Other central banks, like the European Central Bank, are also beginning to shift their monetary policy. Oil prices fell due to hotter-than-expected GDP results and ongoing conflicts in the Middle East, which have heightened investor expectations of higher interest rates. The executive shakeup at Morgan Stanley, with Ted Pick succeeding CEO James Gorman, has been received positively by investors.