Nasdaq futures down as spike in yields pressures tech stocks

  • 📰 Reuters
  • ⏱ Reading Time:
  • 20 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 11%
  • Publisher: 97%

Business News News

Business Business Latest News,Business Business Headlines

Futures tracking the Nasdaq 100 index fell on Tuesday as a rise in U.S. bond yields hit tech-related stocks and investors bought into undervalued banks and industrial shares that stand to benefit from a re-opening economy.

Nasdaq 100 futures slipped 0.6% as Amazon.com, Apple Inc, Netflix Inc and Microsoft Corp dropped between 0.6% and 0.8% premarket, as U.S. 10-year Treasury yields hit a 14-month high.

A rise in yields has particularly hit tech stocks which often have a low-rate environment heavily baked into their high valuations. The three main indexes recouped most of their losses from session lows on Monday as investors took heart from signs that the impact from the fall of a U.S. hedge fund was limited to a handful of stocks and didn’t ripple out to broader markets.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Biden administration and the American dream 🤦🤦🤦🤦🤦🤦🤦🤦🤦🤦🤦🤦🤦🤦🤦🤦🤦

I first had doubts when I registered and invested money in forex trade with marydamron142 but finally I find it real and legit after i was able to withdraw my profit into my bitcoin wallet in just 7 days after my trade expiration. Thank you Ms marydamron142

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 2. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Apple, Facebook drive Nasdaq futures higher as earnings roll inNasdaq futures jumped 1% on Thursday after stellar earnings from Apple and Facebook powered a rally in tech stocks, while investors parsed another barrage of quarterly reports ahead of GDP numbers and jobless claims data. Apple Facebook SpaceX Spotify nice
Source: Reuters - 🏆 2. / 97 Read more »