Activision's Takeover Signals More Big Buys Ahead

The yield on the 10-year Treasury climbed above 1.8%, and while that's still extremely low by historical standards, the move was enough to send another warning shot across the Nasdaq Composite's (NASDAQINDEX: ^IXIC) bow. As of 12:30 p.m. ET, the Nasdaq was down more than 2%, sending it more than 10% below its recent record highs. Activision Blizzard (NASDAQ: ATVI) soared on news that it was an acquisition target, marking continued consolidation activity within the video game industry.