Tech rout drags US stocks lower to kick off week, Bitcoin steadies around $67K

Treasury yields were little changed Tuesday as investors looked ahead to delayed data releases in this holiday-shortened week.

The 10-year Treasury yield rose less than 1 basis point to 4.058%. The 30-year Treasury bond yield slipped 1 basis point to 4.689%. The 2-year Treasury note yield climbed more than 2 basis points to 3.439%. One basis point equals 0.01%, and yields move opposite to prices.

Across the curve, the U.S. 10-Year Treasury was at 4.054% and flat. The 1-Month Treasury stood at 3.716%, up 0.026. The 1-Year Treasury was at 3.491%, up 0.011.

The 2-Year Treasury was at 3.437% and unchanged. The 30-Year Treasury was at 4.679%, down 0.004. The 3-Month Treasury came in at 3.699%, up 0.018. The 6-Month Treasury was at 3.628%, up 0.01.

Investors are focused on Wednesday’s FOMC minutes, which could offer more detail on the last rate decision and the path ahead for monetary policy.

More delayed data is also on deck. Housing figures for November and December are due Wednesday. December’s personal consumption expenditures index, the Federal Reserve’s preferred inflation gauge, is scheduled for Friday.

According to the CME FedWatch Tool, traders are pricing in a 92% chance that the Federal Reserve keeps rates unchanged in the 3.5% to 3.75% range.

Some Americans may see larger tax refunds this year, and Wells Fargo says that could push fresh money into stocks and Bitcoin.

The bank points to the “big beautiful bill” passed last summer, which includes favorable provisions for 2025 tax filers. On top of that, the IRS did not update its tax withholding tables last year, meaning workers are unlikely to face surprise adjustments on previously collected taxes.

Wells Fargo estimates that about $150 billion could flow into markets by the end of March, as more than 60% of refunds are issued. Analysts say that kind of liquidity tends to favor risk-on assets.

“Additional savings from tax returns, especially for the high-income consumer will flow back into equities, in our view,” Wells Fargo analyst Ohsung Kwon wrote Sunday. “Speculation picks up with bigger savings…we expect YOLO to return.”

The bank also noted that Bitcoin often acts as a liquidity proxy. Domestic liquidity has dropped $105 billion over the past four weeks, while Bitcoin has pulled back roughly 29% in the past month.

Wells Fargo screened more than two dozen stocks across sectors such as utilities, financials and industrials, focusing on names favored by retail investors based on buy order volumes tracked by Wells Fargo Securities flows.

Among them is Robinhood, which the bank says could benefit from a surge in retail trading tied to tax refunds. The stock has fallen 31% over the past month alongside weaker crypto prices.

Last week, the company reported fourth-quarter crypto revenue of $221 million, down 38% year over year.

Operating expenses rose nearly 40% in the final quarter of 2025 compared with a year earlier as the firm pushes to become what it calls a financial superapp.

Boeing also made the list. Shares are up 32% over the past year. The aircraft maker has seen strong demand for its planes despite fallout in 2024 from multiple accidents and whistleblower complaints. Earlier this month, Boeing said it delivered 46 airplanes in January, the third-highest total for that month in its history.

Warren Buffett’s Berkshire Hathaway trimmed more of its Apple stake in the fourth quarter and opened a new position in The New York Times, according to a securities filing.

The Omaha-based company reduced its Apple holding by 4.3%, bringing the position down to $61.96 billion, based on data from InsiderScore. Even after the cut, Apple remains Berkshire’s largest equity holding by a wide margin.

This follows earlier moves. In the third quarter, Berkshire trimmed Apple and started a stake in fellow “Magnificent Seven” name Alphabet. In the second quarter of last year, the firm had already slashed its Apple stake, cutting it by two-thirds in 2024.

Apple rose about 9% in 2025, marking its third straight winning year, but it still trailed the S&P 500, which gained more than 16% last year. The stock is down around 3% so far this year and logged its worst day since April 2025 just last week.

It is not clear whether the trades were made by Warren himself or by investment managers Todd Combs and Ted Weschler.

Warren has long described Apple as more of a consumer products business than a pure technology company, and the portfolio changes may signal an effort to simplify holdings for his eventual successor.

Beyond Apple, Berkshire disclosed a $351.7 million stake in The New York Times. The position ranks 29th out of Berkshire’s 41 total holdings.

As of the end of the fourth quarter, Berkshire’s top holdings included Apple at $61.96 billion, American Express at $56.09 billion, Bank of America at $28.45 billion with an 8.9% reduction in shares, Coca-Cola at $27.96 billion, Chevron at $19.84 billion with a 6.6% increase, Moody’s at $12.6 billion, Occidental Petroleum at $10.89 billion, Chubb at $10.69 billion with a 9.3% increase, Kraft Heinz at $7.9 billion, and Alphabet at $5.59 billion.