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Why StoneCo Stock Is Tumbling Today

·1 min read
Why StoneCo Stock Is Tumbling Today
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Shares of StoneCo Ltd. (NASDAQ: STNE), a financial technology company, were sliding today as some Treasury yields rose to their highest level in two years. The 2-year Treasury note topped 1% today, the highest it's been in nearly two years. When yield rates rise, it usually puts pressure on high-growth technology stocks because it means that the future profits from these companies will be worth less than they would have been if yields remained lower.