Nasdaq and S&P 500 futures were lower in early afternoon European trade after the indexes surged to records in the last session, as still-higher Treasury yields and a fresh jump in oil prices failed to knock U.S. stock market exuberance.

The "Magnificent Seven"--the mega-cap companies Nvidia, Apple, Alphabet, Microsoft, Amazon, Meta and Tesla--traded mixed in premarket trade after powering indexes to new records. Futures for the Dow Jones Industrial Average dropped 0.6%. Futures for the S&P 500 were down 0.3%, while Nasdaq futures were 0.7% lower.

"The breadth of the rally has narrowed," said UBS Wealth Management Chief Investment Officer Mark Haefele. "The increasing concentration of market gains reinforces the importance of managing risk."

Brent crude oil prices rose 1.5% to $102.08 a barrel while WTI prices hovered around $90 after Houthi militants attacked Saudi airports. Conflict in the Arabian peninsula is escalating after Saudi-backed forces launched a counteroffensive to retake territory along the Red Sea.

Treasury yields rose in tandem with oil prices. The 10-year U.S. Treasury yield increased 5.3 basis points to 5.323%, according to Tradeweb.

Higher yields and oil prices dragged the market mood in Asia and Europe. The Korean Kospi slipped 2%, while Hong Kong's Hang Seng Index fell 0.6%. Japan's Nikkei 225 fell 0.9%. In Europe, the continent-wide Stoxx 600 fell 1%.

French government bonds came under renewed pressure as budget talks remain in focus. The 10-year French OAT yield rose almost 14 basis points to 4.889%, while the 10-year German Bund yield was up 3.3 basis points to 3.507%.

The dollar continued to strengthen as oil prices rose, prompting a fall in bitcoin and gold prices. Bitcoin fell close to $83,618, while gold was down 1.1% to $4,118 a troy ounce.

For the day ahead, the Federal Reserve will publish minutes from its September policy meeting, adding color to policymakers' economic outlook.