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Stock futures are flat after rout in tech stocks
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cnbc.comU.S. stock futures were steady in overnight trading on Monday after a tech-focused sell-off spurred by rising bond yields that saw the Nasdaq Composite drop more than 1%.
Dow futures rose 40 points. S&P 500 futures gained 0.1% and Nasdaq 100 futures rose 0.1%.
The S&P 500 and Nasdaq Composite fell on Monday as growth pockets of the market reacted to a jump in bond yields. The U.S. 10-year Treasury yield climbed by 9 basis points to above 1.62% on Monday.
Stocks initially reacted positively to the announcement that Federal Reserve Chair Jerome Powell was nominated for a second four-year term by President Joe Biden, driving expectations that the central bank will stay on its monetary path as the economy recovers from the pandemic and attempts
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