12/13

Why is DXYZ Down Today After Inflation Concerns

The Destiny Tech100 ETF (DXYZ) closed at $70.13 on December 13, down 3.32%, as tech stocks faced headwinds from rising Treasury yields and inflation concerns. The tech sector, heavily weighted in DXYZ, struggled as the 10-year Treasury yield reached a two-week high, making future earnings less attractive. Inflation worries were exacerbated by a stronger-than-expected US producer price index, which rose 0.4% in November, surpassing the anticipated 0.2% increase. This data further pressured equities, with the Nasdaq Composite slipping below the 20,000 mark. Major tech companies like Nvidia and Adobe saw declines, with Nvidia dropping over 2% and Adobe plunging more than 13% following a disappointing 2025 outlook. Despite Broadcom's strong performance, rallying over 24% on AI chip sales forecasts, the broader tech market remained under pressure.