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Nasdaq 100 E-mini futures fall as bond yields pressure chip stocks
September Nasdaq 100 E-mini futures were down 1.2%, while the 30-year Treasury yield rose to 5.33%, its highest level since 2007.
Nasdaq 100 E-mini futures fell 1.2% as a global bond selloff reduced investors’ appetite for risk, dragging down chip and other AI-related stocks in pre-market trading, according to Yahoo Finance.
Chip and AI infrastructure names led the declines, with Sandisk, Micron Technology, and Intel each dropping more than 5%, a move tied to higher bond yields that increase the discount rate applied to future earnings and weigh on valuations.
Rising yields were linked to concerns about prolonged elevated inflation, with the 30-year T-note yield up two basis points to 5.33%, its highest level since 2007, as U.S. spending worries and long-dated debt issuance compounded inflation anxiety, Yahoo Finance said.
The bond-market pressure also coincided with geopolitical and energy developments, including a U.S.-Iran standoff that showed no easing and a rise in WTI after an attack near the Strait of Hormuz, while Wall Street’s main indexes ended lower in the prior session.
(Yahoo Finance also noted that EyePoint plunged more than 66% after a late-stage trial for wet age-related macular degeneration missed its primary endpoint, while chip and AI infrastructure stocks saw some support after Bloomberg reported Anthropic’s Q2 revenue jumped at least 14-fold year over year.)
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