US stock futures edged lower ahead of Tuesday’s open, with major indices under pressure as rising Treasury yields weighed on sentiment. The Nasdaq 100 fell 1.2%, the S&P 500 dropped 0.5%, and the Dow Jones Industrial Average declined 0.1%, reflecting broader market caution. Tech stocks bore the brunt of the sell-off, with Nvidia and Micron Technology both falling sharply in premarket trading.
The 10-year Treasury yield climbed to 4.74%, while the 30-year yield hit 5.2%, its highest level since June 2007, exacerbating concerns over borrowing costs and economic growth. Energy shares provided limited relief, with Home Depot rising 1.5% amid resilient retail demand. Meanwhile, WTI crude oil traded at $84.5 per barrel, reflecting mixed signals from global energy markets.
Despite the broader equity market weakness, crypto assets showed relative resilience. The total cryptocurrency market cap rose 0.5% to $2.28 trillion, with Bitcoin trading above $64,000 and gaining roughly 1% on the day. The divergence between traditional assets and digital currencies underscored ongoing divergences in investor sentiment across markets.
Written by Oliver Grant
Markets Desk
