US stock futures decline as bond yields rise and oil prices increase

US stock futures slid before the opening bell on August 18, with the Nasdaq 100 dropping 1.4% and the S&P 500 falling 0.6%. The culprits: a sharp move higher in Treasury yields and oil prices that reminded investors the macro environment still has teeth. The 30-year Treasury yield climbed to its highest level since 2007, a benchmark that carries psychological weight for a market that spent years basking in low borrowing costs. Meanwhile, Brent crude traded near $91 per barrel, fueled by fading hopes for any near-term peace in the Middle East. The yield squeeze tightens The 10-year Treasury yield pushed toward levels not seen since early 2025, compounding the pressure on growth-oriented names. Technology and AI-related stocks bore the brunt of the sell-off. These are the segments most sensitive to higher discount rates, because so much of their valuation is built on future earnings projections. When yields rise, those future profits are worth less in today’s dollars. Energy stocks, by contrast, showed relative resilience. The same oil price surge punishing the broader market is a direct revenue tailwind for producers. Oil and geopolitics collide Brent near $91 per barrel isn’t p...