Nasdaq-100 futures fell Tuesday, weighed down by a decline in chip stocks as investors once again appear to rotate out of names tied to artificial intelligence.
Futures tied to the tech-heavy index were down 1%, while S&P 500 futures lost 0.2%. Dow Jones Industrial Average futures edged higher by 149 points, or 0.3%.
Shares of Micron were last seen 5% lower in premarket trading, with KLA, Marvell Technology, Broadcom and AMD also posting declines.
The downward pressure began in Asia-Pacific markets, after South Korea’s Kospi dropped nearly 5% following a nearly 7% drop in memory chipmaker Samsung Electronics. The company reported a big jump in second-quarter profit, though concerns about spending and demand overshadowed the increase. In Europe, the Stoxx 600 index shed 0.1%.
|