Red-hot tech stocks could be derailed by the Fed

The fate of the red-hot tech stocks dominating the US stock market could rest in the hands of the Federal Reserve.
The so-called FAANG group — consisting of Facebook, Apple, Amazon, Netflix, and Google — has traded inversely to 10-year Treasury yields for the better part of the past decade, according to data compiled by Credit Suisse.
So if the Fed continues to raise interest rates as planned, those high-flying tech stocks are likely to come under pressure, at least if history is any