Why Appian, Pinterest, and MongoDB All Retreated This Morning
Shares of Appian (NASDAQ: APPN), Pinterest (NYSE: PINS), and MongoDB (NASDAQ: MDB) were falling this morning as the broader tech sector tumbled in response to rising bond yields.
Appian was down 8.1%, Pinterest fell 5.3%, and MongoDB slid 4.3% as of 10:44 a.m. EDT.
There was no company-specific news causing the drop for any of these stocks. Instead, it appeared that investors were responding to the 10-year Treasury yield hitting 1.74%, which is the first time the rate has surpassed 1.7% in more than a year.
Source Fool.com
