Why StoneCo Stock Is Tumbling Today

Shares of StoneCo Ltd. (NASDAQ: STNE), a financial technology company, were sliding today as some Treasury yields rose to their highest level in two years. 

The tech stock was down by 9% as of 4:10 p.m. ET. 

The 2-year Treasury note topped 1% today, the highest it's been in nearly two years. Meanwhile, the 10-year note rose to 1.86% today, its highest level since January 2020. 

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Source Fool.com