S&P 500 and Nasdaq futures decline 0.5% and 1.1% respectively amid rising Treasury yields and geopolitical tensions.
US stock futures slipped early Tuesday, with the S&P 500 down 0.5% and Nasdaq futures falling 1.1% as tech shares led declines. Memory and chipmakers underperformed, with Sandisk and Western Digital dropping over 5% each.
The move follows softer US retail sales data on Friday and comes ahead of key retailer earnings this week. Bond yields continued their ascent, with 30-year Treasury yields hitting fresh 2007 highs at 5.33%, pressuring equities.
Geopolitical risks, including heightened US-Iran tensions, added to investor caution. Major tech names like Nvidia, Tesla, and Meta saw modest declines, while Microsoft and Apple edged slightly higher.