The technology sector is experiencing a significant downturn as escalating tensions between the U.S. and Iran contribute to a risk-off sentiment in the broader market. This geopolitical uncertainty is driving oil prices higher, fueling inflation concerns and pushing government bond yields to multi-year highs. Higher yields negatively impact the valuation of growth-oriented tech stocks by increasing borrowing costs and discounting the present value of future earnings, with the semiconductor sub-sector being particularly hard-hit during the session.