Stock futures fell on Thursday as Treasury yields reversed course from the decline seen in the prior trading day following the Treasury Department's debt buyback announcement.
Dow Jones Industrial Average futures shed 357 points, or 0.7%. S&P 500 futures lost 0.4%, while Nasdaq-100 futures slid 0.7%.
Bond yields advanced on Thursday, climbing back from Wednesday's slide after the Treasury Department said it will at least double repurchases of 10-, 20-, and 30-year debt in the next few months.
The yield on the 30-year Treasury bond spiked to 5.254%, while the 10-year yield gained to 4.704%.
Also weighing on equities, oil prices rose again amid increasing tensions between Iran and the U.S. President Donald Trump stated in a Truth Social post that the U.S. would begin "the most crushing economic operation ever taken against any country" against Iran.
A pullback in Walmart shares hit the broader market as well. The retail giant dropped more than 6% after its U.S. comparable sales missed analyst expectations.
Wall Street is coming off a winning session, but analysts believe that the bond market respite will not last long.
