(Bloomberg) -- Nasdaq 100 futures climbed Tuesday after an overnight slump in technology stocks, while buying by Chinese state funds bolstered sentiment and helped Asian shares erase losses. Treasury yields fell.China’s indexes rebounded from lows after state-related funds stepped in to ensure market stability, according to people familiar with the matter. Nasdaq 100 contracts outperformed as U.S. futures rose. The tech gauge tumbled almost 3% Monday and is now down 11% from a February record. The S&P 500 shed intraday gains as the retreat in high-valuation stocks offset a rise in financial and materials shares.Elsewhere, the yen weakened beyond 109 per dollar for the first time since June. The 10-year Treasury yield was below 1.6%, with investors watching upcoming auctions to assess the outlook. Asian credit markets slumped as more deals were scrapped on concerns about the spike in rates.The risks associated with rising bond yields persist, with the U.S. benchmark trading around a 12-month high amid fears that government aid programs could push the economy into overdrive and stoke inflation. Investors are also questioning whether equity valuations have become excessive, especially in speculative tech shares, and are favoring cheaper cyclical stocks.“There’s definitely a lot of volatility in the market right now and many of the sectors that underperformed last year are rallying -- this is part of a rotation,” said Valerie Grant, senior equities portfolio manager at AllianceBernstein.Elsewhere, oil fluctuated after Brent crude pulled back below $70 a barrel. Bitcoin traded above $53,000.Here are some key events to watch:EIA crude oil inventory report is due WednesdayThe U.S. February consumer price index will offer the latest look at price pressures Wednesday.The U.S. government auctions 3-, 10- and 30-year Treasuries this week.The European Central Bank holds its monetary policy meeting and President Christine Lagarde is set to do a briefing Thursday.StocksS&P 500 futures rose 0.7% as of 12:07 p.m. in Tokyo. Nasdaq 100 contracts were up 1.2%. The S&P 500 Index fell 0.5%.Topix index rose 0.6%.Australia’s S&P/ASX 200 Index rose 0.4%.Kospi index fell 1.2%.Hang Seng Index added 1.3%.CSI 300 Index was down 0.5%.CurrenciesThe yen traded at 109.19 per dollar, down 0.3%.The offshore yuan was at 6.5366 per dollar, up 0.2%.The Bloomberg Dollar Spot Index fell 0.1%.The euro traded at $1.1857.BondsThe yield on 10-year Treasuries fell about two basis points to 1.57%.Australia’s 10-year bond yield was at 1.77%.CommoditiesWest Texas Intermediate crude rose 0.5% to $65.34 a barrel.Gold was at $1,687.90 an ounce.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.