Tech Stocks Hit, Yields Plunge as AI Trade Fizzles: NetApp, Amgen, Nasdaq in Focus

The day's market action was framed as a moment when the AI trade fizzled, hitting tech stocks and sending yields plunging. NetApp, Amgen and the Nasdaq are singled out as focal points. The combination of falling yields and weakness in tech shares suggests a shift in investor sentiment, though the body does not specify the magnitude or drivers beyond the AI theme. This comes after a period in which AI-related enthusiasm had been a major force in markets, and the pullback may reflect profit-taking or reassessment. The mention of Amgen, a biotech, alongside NetApp and the Nasdaq indicates the impact is not confined to pure AI plays. Investors will likely watch whether the yield decline continues and whether tech can stabilize, but no specific catalysts or dates are provided in the body.