Investors rushed out of high flying technology stocks such as Apple and Netflix following a rise in US bond yields, with the benchmark 10 year Treasury yield hitting a one year high of more than 1.6%.

Nicole Web financial advisor with Wealth Enhancement Group, directly links the sell off in technology shares toe higher yields.

I really do think this is responsive, Thio the uptick in yield way just this is this is accelerated.

That's accelerated quickly and we don't I don't think that Wall Street believes that there's mechanisms in place to stop it any time soon and as a result of that is starting to really call into question whether or not the current valuations of companies make sense with interest rates at those levels.

But as the rest of Wall Street tanked so called meme stocks such as Gamestop Sword, the video game retailer, was up almost 70% at one point in a rally reminiscent of the stock trading frenzy in January when retail investors sent its share price skyrocketing, hitting hedge funds with bets on its decline after the Bell food delivery company Door Dash reported over three fold rise in quarterly revenue in its first results as a public company but fell 10% after posting a net loss of $312 million for the quarter ending December 31st bigger than last year's loss of $134 million.