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Nasdaq futures slump 2% as rising yields spark tech rout -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO Traders working at the New York Stock Exchange, New York City, U.S.A, 12 January 2022. REUTERS/Brendan McDermid

(Reuters) – Futures that track tech-heavy stocks fell almost 2% Tuesday after traders returned from a weekend of holiday weekends to place themselves for a Federal Reserve policy meeting in the coming weeks.

European and Asian rate-sensitive technology stocks were under severe pressure as the two-year Treasury yields which measure short-term interest expectations crossed 1%. It was the first such crossing since February 2020. [US/]

Frankfurt-listed shares from U.S. megacaptech companies such as Google, Apple, Meta and Amazon were down last year between 1.9% and 2.5%. Similar percentages were seen in premarket trading early in the United States.

At 04:48 AM. ET (0948 GMT) were down 292 point(0.82%), were down 57.25points, or 0.1.33% and were down 292.5points, or 1.58%.

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