US Stock Futures Drop as Semiconductor Stocks Slip, Yields Climb

US futures ticked lower with 10-year Treasury yields climbing above 4.6%. Major semiconductor stocks like Micron Technology Inc. and Nvidia Corp. extended declines.

S&P 500 futures fell 0.4% as of 7:17 a.m. in New York, with Nasdaq 100 contracts down 0.6%. Nvidia slipped 0.7% ahead of results due later this week. West Texas Intermediate crude oil fell 0.4% to around $108. On Monday afternoon, President Trump said he called off a new bombardment of Iran planned for Tuesday after Saudi Arabia and other Persian Gulf allies wanted more time to pursue diplomacy.