Nasdaq 100 Futures Slide 1% as Yields and Oil Spike on Rate Hike Fears
NDX sits 29% above its 52-week low of $22,841.417.
Summary
Nasdaq 100 futures dropped 1% on September 1 as climbing bond yields and a 2% jump in Brent crude to above $92 per barrel pressured risk assets. The move follows renewed US-Iran fighting and euro-area inflation at a near three-year high, which strengthens the case for a rate hike next week. This is the first report of today's session decline; prior timeline items covered different sessions and drivers. Traders should note the index is trading near its 52-week high, making it vulnerable to further yield-driven selling.
At the time of this announcement, NDX was trading at $29,456.97 on NASDAQ in the Technology sector. The 52-week trading range was $22,841.42 to $30,762.20. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Moneycontrol.