Stock Market Update

Selling pressure remains broad in premarket trade, with semiconductor weakness adding to the pressure from rising global bond yields. The S&P 500 futures currently trade 55 points below fair value.

Japan’s 10-year government bond yield has now reached 3.00% for the first time since 1996, advancing from just below that threshold earlier this morning. That move reinforces inflation, deficit, and bond-supply concerns across global markets, with the U.S. 10-year yield up three basis points to 4.79%.