Nasdaq futures tumble over 1% as surging bond yields hammer tech shares

Published by
Reuters

By Devik Jain and Sruthi Shankar (Reuters) – Nasdaq futures fell more than 1% on Tuesday as technology heavyweights came under pressure from a surge in bond yields on expectations of higher interest rates and rising inflation. The two-year U.S. Treasury yield surged to 18-month highs, weighing on shares of high-growth companies whose values are closely linked to future earnings. Shares of Google-parent Alphabet Inc, Microsoft Corp, Amazon.com Inc, Apple, Tesla Inc and Facebook Inc dropped about 1.5% in premarket trading. These stocks have benefited from the low-interest rate environment since …

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