American stock futures opened September trading under pressure as a worldwide selloff in bonds pushed yields to their highest levels in over a decade. The S&P 500 futures fell 0.6% while technology-heavy Nasdaq futures dropped 1.2% in early Monday trading.
Bond markets showed no mercy. US Treasury yields climbed between two and four basis points, with the benchmark 10-year yield touching 4.79%. Japanese government bonds suffered an even more dramatic move, with 10-year yields breaking above 3.00% for the first time since 1996.
What’s driving the sudden market anxiety? Investors appear caught between persistent inflation worries and rising geopolitical risk. Oil prices jumped sharply after reports emerged of projectile s on two supertankers, pushing West Texas Intermediate crude above $87 per barrel, the highest level since late July.
Technology stocks bore the brunt of selling pressure. Reports of potential labor strikes at Micron’s Taiwan facilities sent the chipmaker’s shares down 2% in premarket trading. The broader semiconductor sector followed lower, with memory chip makers falling 2.2%. Meanwhile, defensive sectors and energy stocks showed relative strength as investors sought safer positions amid the turbulence.
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