U.S. stock futures fell on Thursday as interest rates continued to rise and market momentum faded. Futures correlated with the Dow Jones Industrial Average fell by 69 points, or 0.2%. In a similar vein, S&P 500 futures fell by 0.2% and Nasdaq 100 futures fell by almost 0.3%.
The yield on the benchmark 10-year Treasury note rose beyond the crucial 4.5% mark, and the yield on the shorter-term 2-year note increased as well. In light of the uncertainty around the likely timing of interest rate decreases by the Federal Reserve, investors have been keenly tracking the movement of Treasury yields.
The Dow concluded the day with a six-day winning run after a mixed trading session, and the S&P 500 saw its first decline in five days.
Source (CNBC)
