Stock futures slipped Monday as key tech shares that have led the bull market continued to be dumped by investors. S&P 500 futures dropped 0.6%, while Nasdaq 100 futures shed 0.9%. Futures tied to the Dow Jones Industrial Average lost 36 points, or 0.1%. All three benchmarks are down for the last two weeks, with tech shares causing most of the damage. Palantir and Nvidia, two of the bull market leaders popular with retail investors, shed around 3% each in premarket trading to build upon their losses from last week. Nvidia fell nearly 6% during the period, while Palantir lost 11%. Other popular tech shares including Tesla, Broadcom, and Micron were also down in premarket trading. Surging bond yields have been one of the catalysts for the sell-off in growth-oriented shares. The 10-year Treasury yield on Monday touched the highest since late 2023. “With current inflation and inflation expectations elevated and sticky, and with bond yields having risen sharply and quickly, equity investors are starting to become more cautious,” said Katherine Nixon, chief investment officer for wealth management at Northern Trust. A better-than expected jobs report on Friday spiked yields and sent stocks reeling by casting doubt on further interest rate cuts by the Federal Reserve. The Dow lost 697 points on Friday. The 30-stock Dow and S&P 500 both ended the week 1.9% lower, while the Nasdaq Composite lost 2.3%. All three are now in the red for the young year. Investors are hoping the start of the fourth-quarter earnings season with stabilize markets. Banks including Citigroup, Goldman Sachs and JPMorgan Chase report on Wednesday, while Morgan Stanley and Bank of America will post results on Thursday. Data this week includes the December consumer price index on Wednesday morning. Before that, investors will parse wholesale inflation with December’s producer price index report on Tuesday. The 10-year Treasury yield touched a fresh 14-month high as investors looked ahead to key inflation prints. The yield on the 10-year Treasury was last marginally lower at 4.77%, the highest level since Nov. 1, 2023. This followed the 10-year Treasury yield’s jump on Friday following a hotter-than-expected jobs report. The 2-year Treasury yield also slipped less than 1 basis point at 4.392%. Asia-Pacific markets traded lower Monday, after U.S. jobs report on Friday dampened investors’ hopes for early interest rate cuts by the Federal Reserve. China’s exports and imports in December beat expectations by a significant margin. Exports rose 10.7% from a year earlier, beating Reuters’ expectations of a 7.3% year-on-year growth. The country’s imports in December unexpectedly rose 1%, compared with Reuters’ estimates of a 1.5% decline. Mainland China’s benchmark CSI 300, fell 0.27% to 3,722.51, extending losses after having closed at its lowest level since September 2024 on Friday. Hong Kong’s Hang Seng Index was down 0.73% as of its final hour of trade, falling below 19,000 for the first time since last September, data from LSEG showed. South Korea’s Kospi lost 1.04% to close at 2,489.56 while the Kosdaq dipped 1.35% to close the trading day at 708.21. Australia’s S&P/ASX 200 fell 1.23% to close at 8,191.9. Japan markets are closed for a holiday. Oil extended gains for a third session on Monday, with Brent crude rising above $80 a barrel to its highest in more than four months, driven by wider U.S. sanctions on Russian oil and the expected effects on exports to top buyers India and China. Brent crude futures rose $1.27, or 1.6%, to $81.03 a barrel after hitting the highest level since Aug. 27 at $81.49. U.S. West Texas Intermediate crude was up $1.43, or 1.9%, at $78 a barrel after touching its highest since Aug. 15 at $78.58. Brent and WTI have climbed by about 6% since Jan. 8, surging on Friday after the U.S. Treasury imposed wider sanctions on Russian oil. The new sanctions included producers Gazprom Neft and Surgutneftegaz, as well as 183 vessels that have shipped Russian oil, targeting revenue Moscow has used to fund its war with Ukraine. Gold prices eased on Monday as strong U.S. jobs data reinforced the Federal Reserve’s cautious stance on interest rate cuts and boosted the dollar, though underlying safe-haven demand amid uncertainty around President-elect Donald Trump’s policies curbed losses. Spot gold was down 0.4% at $2,679.30 per ounce, off almost one-month highs reached on Friday. U.S. gold futures were 0.4% lower at $2,705. The dollar index hit an over two-year high after the U.S. jobs report reinforced the Fed’s cautious approach towards policy easing this year amid concerns of inflation from potential import tariffs under Trump. A higher dollar makes the greenback-priced bullion more expensive for foreign buyers.