Circle Internet Group (CRCL) shares fell 4.90% to $108.42 as a sharp spike in Treasury yields triggered a retreat from growth-heavy fintech stocks. The decline follows broader market concerns over weak economic data and geopolitical tensions, continuing the stock's recent downward momentum.
- The 10-year yield reached 4.631% amid a global flight to safety fueled by Chinese economic data and Middle East instability.
- While Bernstein analysts highlighted robust platform adoption and $77 billion in USDC circulation, they noted that interest rate fluctuations are creating headwinds for core reserve income.