Stock market today: US futures sink as rising Treasury yields rattle nerves

Dow futures sank over 200 points as US stocks waded in the red on Wednesday, after a spike in Treasury yields unsettled investors already weighing whether recent data will shift the needle on interest rates. Futures on the Dow Jones Industrial Average and the S&P 500 both fell 0.6%, coming off a lackluster session. Contracts on the Nasdaq 100 dropped roughly 0.7%.

Those concerns appeared to be eclipsing the hopes for AI growth that lifted the Nasdaq to a record in the slipstream of Nvidia's post-earnings rally. The yield on five-year Treasurys on Tuesday rose to near four-week highs, while the 10-year yield topped the key 4.5% level. On Wednesday, the benchmark yield inched up further to trade around 4.56%.

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