U.S. Equity Futures Drop as 10-Year Yield Hits 5.337% and Brent Nears $101
Updated
Updated · CNBC · Oct 6
U.S. Equity Futures Drop as 10-Year Yield Hits 5.337% and Brent Nears $101
3 articles · Updated · CNBC · Oct 6
Summary
Dow futures fell 403 points, or 0.8%, while S&P 500 futures lost 0.5% and Nasdaq-100 futures slipped 0.8% after the benchmark index closed above 7,800 for the first time.
Brent crude rose nearly 1% to around $101 a barrel and U.S. crude moved back toward $90, pushing Treasury yields higher again after a brief pause.
The 10-year Treasury yield climbed more than 6 basis points to 5.337%—after touching its highest since April 2002—while the 30-year yield rose above 5.7% to a level last seen in May 2002.
A $39 billion 10-year Treasury auction and minutes from the Fed's September meeting, when officials delivered their first rate hike since 2023, are the next tests for markets.
European stocks fell broadly and Asian indexes also weakened, extending the pressure beyond Wall Street as higher oil and borrowing costs hit risk appetite.