Nasdaq futures down as spike in yields pressures tech stocks

  • 📰 ChannelNewsAsia
  • ⏱ Reading Time:
  • 36 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 18%
  • Publisher: 66%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria 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 ...

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 0.6per cent as Amazon.com, Apple Inc, Netflix Inc and Microsoft Corp dropped between 0.6per cent and 0.8per cent premarket, as U.S. 10-year Treasury yields hit a 14-month high.The tech-heavy Nasdaq, which houses some of the"high-flying" FAANG stocks, is set for its first monthly loss since November as rosy economic projections lifted demand for undervalued banks, energy, materials and industrial stocks.

The Nasdaq is still about 7per cent below its all-time closing high, while bets on a speedy economic recovery driven by vaccine distributions and unprecedented stimulus has helped the S&P 500 and the Dow notch record closing highs last week.

 

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

 /  🏆 6. in NG

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

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

Grab to list on Nasdaq via S$53 billion merger with US outfit
Source: TODAYonline - 🏆 1. / 99 Read more »