US STOCKS-Nasdaq set to slump at open as bond yields spike

[admin]

The Nasdaq was set to drop sharply at the open on Thursday as bond yields hit 14-month highs after the Federal Reserve pledged to tolerate inflation and keep monetary policy loose through 2023. Yield-sensitive tech stocks such as Apple Inc, Facebook Inc, Netflix Inc, Amazon.com Inc and Microsoft Corp dropped between 1.2% and 1.6% in premarket trading.