US stock futures, treasury yields fall amid ongoing Russia-Ukraine tension

• 10-year notes plummet to 1.92 %

• S&P 500 futures drop 0.9%, Nasdaq futures decline 1.1 %

The Stock futures and treasury yield in the United States dropped early Monday after weekend dialogue between Western leaders and Russia over mounting geopolitical tensions between Russia and Ukraine. 

The yield on the benchmark 10-year Treasury notes dropped to 1.92 %. The 30-year Treasury yield ticked down to 2.27 %. Yields move in the opposite direction of prices, and one basis point equals 0.01 %.

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In a White House briefing on Friday, US National Security Advisor said there were indicators of Russian escalation near the Ukraine border and that an invasion may take place any time. 

Meanwhile, a phone chat between US President Joe Biden and Russian President Vladimir Putin over the weekend, in which Biden sought to persuade Putin not to invade Ukraine, did not result in a breakthrough. Although, the Pentagon has ordered the departure of US soldiers in Ukraine.

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Stock Futures

Dow Jones Industrial Average futures decreased 0.7 % on Monday. The S&P 500 futures dropped 0.9%, while the Nasdaq futures dropped 1.1 %.

On the regular trading day on Friday at 2:26 PM ET, the Dow Jones Industrial Average was down by 57 points or 0.2%. The S&P 500 fell by 22 points or 0.5%. The Nasdaq Composite dropped by 120 points or 0.8%. 

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Oil Prices

Oil prices fell after rising in early trade on fears that a conflict would reduce the supply of Russian oil to global markets that are already short of major spare supplies.

Brent crude futures, the global oil benchmark decreased 0.92 % to $93.62 a barrel. WTI Crude oil prices ticked down 0.78 % to $92.34 per barrel.