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Sept 28 (Reuters) - Nasdaq futures fell more than 1% on
Tuesday as technology heavyweights came under pressure from a
surge in bond yields, which have been lifted by expectations of
higher interest rates following recent comments from the Federal
The two-year U.S. Treasury yield surged to
18-month highs, weighing on shares of high-growth companies
whose values rest heavily on future earnings.
Facebook Inc, Amazon.com Inc, Apple
, Tesla Inc and Google-parent Alphabet Inc
dropped 1.2% to 1.5% in early premarket trading.
The Nasdaq Composite index shed 1% on Monday, as
investors rotated from technology stocks to economically
sensitive sectors of the market such as financials and energy.
The higher prices and hiring difficulties seen as the U.S.
economy reopens from the pandemic could prove "more enduring
than anticipated," Federal Reserve Chairman Jerome Powell said
in prepared remarks ahead of his hearing before the U.S. Senate
A host of other Fed officials including St. Louis Fed
President James Bullard, Fed Bank of Chicago President Charles
Evans and Fed Bank of Atlanta President Raphael Bostic are also
slated to speak later in the day at separate events.
At 05:05 a.m. ET, Dow e-minis were down 105 points,
or 0.3%, S&P 500 e-minis fell 0.7% and Nasdaq 100
E-minis lost 202.75 points, or 1.33%.
(Reporting by Sruthi Shankar and Medha Singh in Bengaluru;
Editing by Subhranshu Sahu)