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Tech names drag European stocks lower after brutal session on Wall Street

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Global bond yields were cooling off, but stocks, notably in the tech sector, were dropping in Europe, playing catch-up to a selloff on Wall Street.

Technology stocks were bearing the brunt of European equity losses on Friday, playing catch up to a rough day on Wall Street. But U.S. stock futures were inching up as surging bond yields eased off.

“The fear about the rise in interest rates is that they are likely to choke off the economic recovery,” said Naeem Aslam, chief market analyst at AvaTrade. U.S. stock futures ES00, -0.04% YM00, -0.18% COMP, -3.52% inched higher, after the worst session since Jan. 29 for the Dow industrials DJIA, -1.75% and a 3.5% slide for the Nasdaq Composite COMP, -3.52%, its worst one-day loss since September.

 

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