ICAD Icade

U.S. stock futures dropped Monday, pointing to losses for the major benchmarks at the start of the week as technology shares continue to retreat.

S&P 500 futures slipped 0.9% and futures on the Dow Jones Industrial Average declined 0.7%. Nasdaq-100 futures fell 1.3%, suggesting that tech stocks will lead the market lower after the opening bell.

In bond markets, the 10-year U.S. Treasury yield rose to 1.377%, from 1.344% on Friday. The yield is up for three consecutive weeks, and by end of Friday had its biggest one-week gain in over a month. Yields move inversely to prices.

Overseas, the Stoxx Europe 600 declined 1.2%. The U.K.'s FTSE 100, which is dominated by large international businesses, shed 1%.

Among individual shares, Icade rose 3.7% snapping a four-day losing streak. G4S fell 9.9% snapping a three-session run of gains.

The Swiss franc, the euro and the British pound depreciated 0.5%, 0.1% and 0.2% respectively against the U.S. dollar.

In commodities, international benchmark Brent crude advanced 0.9%. Gold gained 0.7%.

German 10-year bund yields were recently at minus 0.289% and the yield on U.K. 10-year gilts was at 0.720%.

In Asia, indexes were mixed. Japan's Nikkei 225 index climbed 0.5%, whereas Hong Kong's Hang Seng fell 1.1% after gaining 1.4% during the session. China's benchmark Shanghai Composite declined 1.5%.

--An artificial-intelligence tool was used in creating this article.

(END) Dow Jones Newswires

February 22, 2021 03:58 ET (08:58 GMT)

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