Bond Sell-Off Sends US Stock Futures Lower, Fed Bets Rise

US stock futures were falling before Wall Street opened.

Technology stocks were expected to be hit hardest, with Nasdaq futures down about 1%.

Bond prices fell, which pushed government bond interest rates higher.

Higher bond rates can make stocks less attractive to investors.

New economic reports showed that business activity was stronger than expected.

This made investors think the Federal Reserve might raise interest rates again.

Fed Governor Michael Barr said more rate increases may be needed to reduce inflation.

Investors also reacted to weak demand at a Treasury bond auction and changing oil prices.