Technology stocks coming under renewed selling pressure with Nasdaq on track for its worst week since February 2021. The S&P 500 lost 0.11%, while the Dow reversed higher as investors rotated to value stocks.

The 10-year note is on the doorstep of 1.8%, up about 30 points to start the year and at its highest level since mid-January 2020. The yield has not closed above 1.74% since March 2021 but might do it today.

No wonder why financials (XLF) and regional banks (KRE) are seeing great action today. Both indexes hit a new intraday high today.