US Futures Drop Ahead of Jobs Data; Nvidia Slips – Europe Market Wrap

American market futures fell after a rise in tech megacaps stalled ahead of employment data, which might provide fresh hints about the prospects for US interest rates.

Contracts for the S&P 500 and Nasdaq 100 were down around 0.4%. Tesla shares slipped more than 1% in premarket trade, giving back part of yesterday’s 6% gain. Nvidia, Meta, and Apple all declined.

The spike in the 10-year Treasury yield on Monday was sustained due to the belief that a Trump presidency would result in increased US budget deficits and inflation. For a second day, a dollar index increased.

Even though the most recent statistics indicated a small moderation of euro-region inflation, European stocks fell as policy makers said they require additional proof that pricing pressures are under control.