Stock index futures opened lower as two key forces converged: climbing US Treasury yields toward 4.6-4.7% and surging diesel prices up 11-20% in recent sessions. Russia’s temporary ban on diesel exports has removed a significant chunk of supply from the international market, while US diesel inventories sit near multi-year lows. This combination is applying downward pressure on equity futures, particularly the Nasdaq 100, whose high-growth tech names are penalized by competing bond yields. Sectors sensitive to fuel costs, such as transportation, logistics, and airlines, could face margin compression if diesel prices remain elevated.
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