Nasdaq set to open lower as tech stocks extend declines

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By Bansari Mayur Kamdar (Reuters) -Nasdaq futures fell 1% on Monday as heavyweight technology stocks dropped on expectations of a high interest rate environment, while big banks extended gains after U.S. Treasury yields climbed to new two-year highs. Megacap growth companies including Apple Inc, Inc, Microsoft Corp, Meta Platforms Inc and Tesla Inc fell between 1.2% and 2.8% in premarket trading. The S&P 500 and the tech-heavy Nasdaq indexes were on course for their fifth straight day of declines as many tech and growth stocks tumbled in the first week of 2022 after investors began …

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