Why TuSimple Stock Is Lower Today

Shares of TuSimple Holdings (NASDAQ: TSP) were trading lower on Monday afternoon amid a broad-based sell-off driven by concerns about rising interest rates.

As of 1:45 p.m. ET, TuSimple's shares were down about 10.3% from Friday's closing price.

TuSimple is a San Diego-based company that is working to develop and deploy autonomous heavy trucks. There was no news moving the company's stock lower on Monday; rather, it appeared to be caught in a broad sell-off of technology names triggered by concerns about inflation and interest rates. A jump in the benchmark 10-Year U.S. Treasury rate, from 1.769% on Friday to 1.8% early on Monday, seems to have alarmed investors.

Source Fool.com