Shares of companies in the broader technology space, including Square, Inc. (NYSE: SQ), are trading lower amid a rise in bond yields, which has weighed on growth stock valuations.

The 10-year Treasury yield hit an intraday high of 1.508% Monday morning before dipping to around the 1.496% level. The spike in the 10-year note Monday comes after the Federal Reserve in September spoke on winding down its ongoing asset purchasing program.

Square, together with its subsidiaries, creates tools that enables sellers to accept card payments and provides reporting and analytics, and next-day settlement.

Square's stock was trading about 6% lower at $224.89 per share on Monday at the time of publication. The stock has a 52-week high of $289.23 and a 52-week low of $151.10.

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