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Tech Down On Treasury Yield Fears, Risk Aversion -- Tech Roundup

09/28/2021 | 04:56pm EDT

Shares of technology companies fell sharply as traders fled a sector seen as sensitive to rising Treasury yields and risk aversion.

In a reflection of changing mood on the stock market, the CBOE Volatility Index, known as the VIX, or "fear gauge," rose by 23% for the session.

Shares of Microsoft fell by more than 3%, the biggest decline for the software giant in almost a year.

Software-focused investment firm Thoma Bravo agreed to sell a 45% stake in Command Alkon, a provider of supply-chain-management software for the heavy construction industry, to building-materials concern HeidelbergCement for more than $1.7 billion, The Wall Street Journal reported.

Facebook said it plans to ask its Oversight Board to recommend ways the company can improve how it regulates content from high-profile users, acknowledging it has struggled in this area.

Write to Rob Curran at rob.curran@dowjones.com

(END) Dow Jones Newswires

09-28-21 1655ET

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