Nasdaq futures down by 2%
A quick drop in US futures as the market continues to grapple with the prospects of higher yields and what that could entail amid the Georgia runoffs.
S&P 500 futures have slumped by 0.8% while Nasdaq futures are leading losses, down by 2%. Meanwhile, Dow futures have also dropped by 0.3% currently.
I would argue that the exacerbated drop in tech owes in some part to the jump in yields, but there is also a divergence in place as we see Russell 2000 futures outperform alongside Dow futures as compared to Nasdaq futures today:
Barring the synonymous drop in the past 15-20 minutes, the divergence has been rather evident. The drop this time around has a bit of a negative ring to it though as we also see European equities fail to hang on to its earlier gains for the most part.
