U.S. stock futures were soft on Monday as higher bond yields and a rampant dollar depressed sentiment.How are stock futures trading
S&P 500 futures
ES00,
-0.78%
dipped 6 points, or 0.2%, to 3,703
Dow Jones Industrial Average futures
YM00,
-0.75%
fell 52 points, or 0.2%, to 29,617
Nasdaq 100 futures
NQ00,
-0.56%
eased 2 points, or 0%, to 11,375
On Friday, the Dow Jones Industrial Average
DJIA,
-1.62%
fell 107 points, or 0.35%, to 30077, the S&P 500
SPX,
-1.72%
declined 32 points, or 0.84%, to 3758, and the Nasdaq Composite
COMP,
-1.80%
dropped 153 points, or 1.37%, to 11067. The Dow Jones Industrial Average closed at a fresh 52-week low and was down 18.6% for the year to date.
What’s driving markets Futures pointed to Wall Street flirting with a fifth consecutive day of losses as worries about rising borrowing costs and a surging dollar continued to pressure risk assets. The benchmark S&P 500 has lost 22.5% so far this year after the Federal Reserve stressed it would continue hiking interest rates aggressively to damp inflation near 40-year highs. In response, the dollar index
DXY,
+0.34%
started the week by topping 114, its highest level since 2002, and the 10-year Treasury yield
TMUBMUSD10Y,
3.782%,
which began the year around 1.65%, was offering 3.77%. “In addition to the ongoing flight of the dollar, overarching concerns arou …