Tech Futures Drop on Rising Treasury Yields While Bitcoin Holds Near $64K

US stock futures moved lower ahead of today’s open, with the Nasdaq 100 dropping by 1.2%, the S&P 500 by 0.5%, and the Dow by 0.1%. This selloff came as the 10-year Treasury yield climbed to 4.74% and the 30-year yield reached 5.2% – its highest level since June 2007.

Higher Yields Hit Tech Stocks The sharp move in bonds had the greatest impact on growth and tech stocks. Nvidia dropped by about 2% in premarket trading, while Micron Technology fell by about 4%.

This weakness followed a softer session yesterday, when the Dow declined by 272 points, and both the S&P 500 and Nasdaq also closed lower. Rising oil prices also added to the pressure, with WTI crude oil currently trading at around $84.5 per barrel.

Home Depot stock was a notable exception, gaining roughly 1.5%, but that’s because it reported better-than-expected fiscal second-quarter results while maintaining its full-year outlook.