Dow futures fall, Treasury yields rise ahead of midterm vote

Dow futures fell 0.8% and S&P 500 futures slipped 0.1% as investors awaited U.S. midterm elections later Tuesday, while Nasdaq futures gained 0.3% after the index's worst three-day run since April 2025. Treasury yields edged higher, with the 10-year up 3 basis points to about 4.925%, the two-year above 4.600% and the 30-year around 5.300%. A fresh round of artificial-intelligence fears hit stocks Monday; chipmakers recovered some ground premarket, but Apple fell 3.8% as margins tightened amid higher memory-chip costs. Midterms will dominate the market outlook, and AI investors are watching state elections for implications for data-center projects. Jefferies said consensus views the vote as a clearing event that removes uncertainty, though it does not expect a substantive change in the outlook. Tech weakness late Monday bled into Asia and Europe: South Korea's Kospi closed 3.6% lower, Sha