Nasdaq set to fall as tech stocks slump on rising bond yields

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Nasdaq futures fell 200 points or 1.5% on Friday, one day after the tech-heavy index soared 329 points, or 2.5%, on gains in the likes of Apple, Facebook and Google-parent Alphabet. However, as bond yields ticked back up Friday, tech stocks resumed their recent slide.

The Dow Jones Industrial Average was set to rise and the S&P 500 was set to fall after both benchmarks closed at record highs Thursday, as expectations for an economic bump from the new $1.9 trillion coronavirus relief package boosted sentiment on Wall Street.

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