The Dow Jones Industrial Average dived 500 points Monday morning. Bitcoin tumbled to its lowest level since July 2021. Read More...
Reuters
Wall St set to slide at open as rising bond yields hit growth stocks
(Reuters) -U.S. stock were set to open lower on Monday as rising U.S. Treasury yields amid prospects of aggressive monetary policy tightening weighed on growth stocks, with the sentiment taking a hit from fears of a sharp economic slowdown in China. The Nasdaq futures tumbled 2.1% as megacap stocks Microsoft Corp, Amazon.com, Apple Inc, Google-owner Alphabet Inc, Meta Platforms and Tesla Inc fell between 2.2% and 4.3%. Yield on the benchmark 10-year Treasury note rose to 3.16%, its highest level since November 2018, as data last week underscored strength in the U.S. economy and investors bet on bigger rate hikes by the Federal Reserve to curb inflation.
