U.S. stock futures fell and bond yields hit two-year highs, intensifying investors’ fears that rising interest rates will set back the large technology stocks that have come to dominate markets.

Futures for the S&P 500 fell 1% Tuesday, after U.S. markets were shut Monday for a public holiday. Contracts for the tech-focused Nasdaq-100 declined 1.6% and futures for the Dow Jones Industrial Average fell 0.8%.