🔴 Power Integrations is trading 6.1% down today as rising yields pressure chip stocks

Power Integrations is trading at $58.29, down 6.08% after broad semiconductor weakness.

• SOXX fell 2.78% during regular trading.
• Rising Treasury yields and escalating U.S.-Iran tensions are pressuring growth-sensitive technology valuations and chip stocks; Reuters reported the 30-year Treasury yield reached 5.321%, its highest in almost 20 years, while chip indexes also fell.
• No fresh company-specific catalyst was identified; earlier Q2 results and product news were positive.