The bull market has now run for four years without a major slowdown.
Technology stocks have powered most of the gains during this period.
Investors have treated tech as the reliable answer to nearly every market question.
That dominance now faces a fresh test from rising bond yields.
Higher yields make riskier assets like tech shares less attractive by comparison.
Many of those stocks carry rich valuations that depend on low interest rates.
A sustained climb in yields could pull money away from the sector.
That shift would pressure the broader market after four strong years.
The rally’s next chapter may depend on how far yields travel from here.
