Tech Stocks Poised to Slip as Bond Yields Climb
Stock futures pointed to losses for technology stocks and oil prices slid as Covid-19 shutdowns in China added to the uncertainty investors face in a period of rising interest rates.
Futures for the tech-focused Nasdaq-100 shed 0.9% Monday, after the Nasdaq Composite dropped 3.9% last week, when Federal Reserve officials signaled their intent to raise borrowing costs and shrink the central bank’s balance sheet to quell inflation.
