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NEW YORK An index of stocks across the world fell on Friday but was set to post its strongest weekly gain in five, while benchmark Treasury yields climbed to…
by Tyler Durden
Friday, Mar 12, 2021 - 08:02 AM
Nasdaq futures fell as much as 2% on Friday after rebounding more than 6% in the past three sessions, after a new spike in U.S. bond yields restarted inflation fears and sent investors scurrying to the perceived safety of the dollar, while hammering global stocks.
A Bloomberg report that Beijing is expanding a crackdown on Tencent Holdings also weighed on the technology sector. S&P 500 futures were also dragged down after ending at record closing highs, and we last trading just above 3,910, down 16 points, or 0.4%, while Dow E-minis were up 12 points.
Friday s selloff was sparked after the yield on the benchmark 10-year notes rose back above 1.60% on Friday to approach the one-year highs touched last week (more below).