Futures fall as tech stocks lag ahead of Fed minutes

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By Medha Singh (Reuters) – U.S. stock index futures fell for the third straight session on Wednesday, led by losses in rate-sensitive technology stocks on fears that rising inflation could force the U.S. Federal Reserve to pare back its support soon. The yield on 10-year Treasury notes touched a one-week high, driving down shares of Apple Inc, Microsoft Corp and Facebook Inc by about 1% premarket. Tech and other growth stocks are sensitive to yields as their value rests heavily on earnings years into the future, which are discounted more deeply when expectations of interest rates hikes rise. I…

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