US Stock Market Today: Nasdaq Futures Slide as Oil Shock and Treasury Yields Hit Wall Street
U.S. stock futures tumbled ahead of Friday’s opening bell. Nasdaq 100 and S&P 500 contracts both slid over 1%, as rising Treasury yields and stronger oil prices threatened Wall Street’s run of records. By 5:38 a.m. ET, Dow E-minis were off 330 points, or 0.66%. S&P 500 E-minis shed 1.07%, with Nasdaq 100 E-minis down 1.56%. In premarket moves, Applied Materials fell, airlines were weaker, but Dexcom traded higher. The selloff is biting right where it hurts U.S. stocks most—AI-fueled gains and the belief that rate hikes were finished. The 10-year Treasury yield pushed up to around 4.54%. Brent crude sat close to $109 a barrel, squeezing growth stocks that lean hard on future profits. “The rally may exhausts itself a little bit,” said Tim Graf at State Street Markets.