Nvidia's Record Buyback Couldn't Keep the Nasdaq Out of the Red on Monday Morning

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Nvidia's Buyback Can't Stop Tech Selloff Amid Rising Yields

Strong Nvidia buyback helped it outperform, but geopolitical risks and higher yields weigh on chips and broader markets.

Nvidia's record $150 billion buyback shows confidence, yet it wasn’t enough to stop the Nasdaq dropping 1%. The real story is rising bond yields, which hit levels unseen since 2002, driven by geopolitical jitters over Iran and a surge in oil prices. This spike in yields raises borrowing costs, putting pressure on high-growth tech firms like AMD and Qualcomm. Local investors should watch how this affects USD/ZAR—higher oil and US yields usually push the rand lower, increasing inflation risks at home. South African tech-heavy plays like Naspers and Prosus might feel the pinch on their US and global earnings, so expect volatility. On the flip side, energy-related stocks like Sasol could gain as higher oil prices flow through. But if US Treasury yields stabilize or Iran tensions ease, the current weakness may reverse. this is just our opinion and not financial advice