Stock futures slip as 10-year Treasury yield crosses 5% for the first time since 2007

Stock futures dipped Friday morning as traders focused on a recent run higher in the 10-year Treasury yield. Futures tied to the Dow Jones Industrial Average were down 75 points, or 0.2%. S&P 500 futures fell 0.2%, while Nasdaq 100 futures dropped about 0.3%. The yield on the benchmark 10-year Treasury crossed 5% for the first time in 16 years. The 10-year yield hit 5.001% around 5 p.m. ET on Thursday, the first time it has traded above that level since July 20, 2007