US stock futures drop Monday as tech weighs on markets
Business
US stock futures dropped this Monday, mostly because tech shares are struggling.
The Dow fell by 100 points (0.2%), while the S&P 500 and Nasdaq also lost ground, ending a three-week winning streak from last week's pullback.
Tech stocks slide as yields rise
Tech stocks like Coherent, Lumentum, and Sandisk slid by up to 5%, with Corning and Seagate down 3%.
Rising bond yields added extra pressure, as the 30-year Treasury hit its highest point in nearly two decades.
Investors are now watching for NVIDIA's earnings on Wednesday, the Fed's Jackson Hole symposium, inflation data, and high oil prices, all making for an uncertain week ahead.