The divergence in equities continues with Nasdaq set for another fall
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What the futures are saying
S&P 500 futures are pointing to a 22 point decline after yesterday’s 30 point decline.
The bigger pain is in tech, where Nasdaq futures are down 230 points after yesterday’s 341 point (-2.5%) decline.
Shares of Tesla are down 6% in the premarket to bring the two-day loss to 14%. It’s now lower than it was when it entered the S&P 500 in December.
There’s increasing attention on how rising yields are weighing on tech. US 30s are near the highs of the day, up 3.3 bps to 2.207%.