European stock futures slide over 1% as surging bond yields roil equity markets
Reuters
Published Feb 26, 2021 01:26AM ET
(Reuters) - European stock index futures fell more than 1% on Friday following steep losses on Wall Street in the previous session as a jump in bond yields and concerns of lofty equity valuations hammered demand for risky assets.
Euro Stoxx 50 futures were down 1.6% by 0606 GMT, while FTSE futures and DAX futures lost 1.2% and 1.3%, respectively.
In Asian trading, stocks skidded to one-month lows and the dollar rose from a three-year trough as the 10-year Treasury yield hit a one-year high of 1.614%, sparking fears the heavy losses could trigger distressed selling in other assets.
On Wall Street, futures tracking the Nasdaq 100 shed 0.6%, a day after the Nasdaq Composite posted its biggest daily percentage fall in four months, with growth-oriented technology stocks bearing the brunt of the sell-off. S&P e-mini futures were down 0.2%.
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Written By: Reuters
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