U.S. Stocks May See Further Downside As Yields, Crude Oil Prices Climb

Stocks are likely to move to the downside in early trading on Tuesday, extending the pullback seen over the two previous sessions. The major index futures are currently pointing to a lower open for the markets, with the S&P 500 futures down by 0.5 percent.

Weakness among technology stocks is likely to weigh on Wall Street, as reflected by the 1.3 percent slump by the tech-heavy Nasdaq 100 futures.

Tech stocks may come under pressure amid an increase in treasury yields, which has lifted the 30-year bond yield to its highest levels in nearly two decades.