US Stock Futures Slide; Nasdaq Futures Down 1% as 30-Year Treasury Yield Hits Highest Since 2004

The signal here is in the long end of the curve, not the equity headline. A 30-year yield at its highest since 2004 resets the discount rate applied to every long-duration asset, which is why growth-heavy Nasdaq futures are absorbing the sharpest hit. That transmission channel runs well beyond listed equities, into venture funding, private credit and tokenized real-world asset yields that compete with a newly expensive risk-free rate. Whether the long end stabilizes or keeps repricing is the open question for risk appetite across both traditional and on-chain markets.