Wall Street set to open lower as spike in yields pressure tech stocks

By Devik Jain and Medha Singh (Reuters) – Wall Street’s main indexes were set to open lower on Tuesday as a rise in U.S. bond yields hit heavyweight tech-related stocks, while undervalued banks and industrial stocks that stand to benefit from a re-opening economy edged higher. Nasdaq 100 futures slipped 0.6% as Facebook Inc, Amazon.com, Apple Inc, Netflix Inc and Microsoft Corp dropped between 0.2% and 0.7% premarket, as U.S. 10-year Treasury yields hit a 14-month high. The tech-heavy Nasdaq, which houses the “high-flying” FAANG stocks, is set for its first monthly loss since November as rosy …

Read More

HEDGE accordingly