Nasdaq-100 futures tumble as Treasury yields surge to pre-pandemic levels

Stock futures fell Tuesday, with Nasdaq-100 futures NQ00, -1.82% dropping 1% arsenic U.S. Treasury yields changeable higher crossed the board. S&P 500 futures ES00, -1.16% were disconnected 0.5%, with Dow industrials futures YM00, -0.75% modestly lower. The losses came arsenic the output connected the 10-year Treasury TMUBMUSD10Y, 1.813% climbed 5 ground points to 1.83% and that of the two-year enactment TMUBMUSD02Y, 1.046% jumped 9 ground points to 1.04%, some astatine levels not seen since aboriginal 2020, earlier the pandemic took hold. U.S. markets were closed connected Monday for the Martin Luther King Jr. holiday. Investors are mulling prospects for Federal Reserve tightening amid inflationary pressures. Oil prices CL00, +1.73% BRN00, +1.27% were besides surging connected Tuesday, aft Yemen's Iranian-backed Houthi rebels targeting a cardinal lipid installation successful Abu Dhabi, sidesplitting 3 radical and triggering a occurrence astatine the country's planetary airdrome connected Monday. U.S. crude prices roseate implicit 2% to $85.73 a barrel.