Traders work on the floor of the New York Stock Exchange during morning trading on July 24, 2026 in New York City. Miguel M. Santiago | Getty Images Stock futures fell slightly Sunday evening, as traders sought to recover from a week of losses caused by a sharp rise in Treasury yields. Dow Jones Industrial Average futures traded 44 points lower, or 0.1%. S&P 500 and Nasdaq-100 futures lost 0.1% and 0.2%, respectively. Last week, the Dow Jones fell 0.8%, marking its second consecutive weekly decline. The S&P 500 and Nasdaq lost 1.4% and 2%, respectively, snapping their three-week winning streaks. In Asia, Japan’s Nikkei 225 fell 0.10% on Monday, while the Topix was flat. South Korea’s Kospi fell 0.71%, but the small-cap Kosdaq gained 0.94%. The Australian benchmark S&P/ASX 200 index rose 0.33%. Stocks have come under pressure from rising bond yields around the world. The yield on the 30-year U.S. Treasury bond surpassed 5.3% last week to reach levels not seen in nearly 20 years. Rates in Japan, France and Germany also hit multi-year highs. Investors feared the war between the United States and Iran would continue longer, keeping oil prices high and driving up inflation. Treasury Secretary Scott Bessent announced measures to help stabilize the long end of the US yield curve, but that respite was short-lived. “I maintain that Treasury’s surprise decision to increase long-term tactical repurchases is effectively a Treasury-led ‘Operation Twist’ designed to counteract changes in short-term market conditions, rather than a form of QE,” wrote David Zervos, chief market strategist at Jefferies. “While buybacks do not create reserves and therefore lack the direct money-printing channel of QE, I believe they leave room for fiscal expansion and produce some QE-like reflationary effects.” Investors will receive new inflation data this week in the form of the July Personal Consumption Expenditure Price Index on Wednesday. On top of that, the Federal Reserve will hold its annual symposium in Jackson Hole, Wyoming, where Chairman Kevin Warsh is expected to give a speech. Artificial intelligence will also be in the spotlight, with Nvidia and Marvell Technology reporting earnings on Wednesday and Thursday, respectively. Those figures will come after Bloomberg News reported over the weekend, citing sources, that Nvidia has notified its customers that servers with Vera Rubin and Blackwell chips will see price increases of more than 15%.
