US stock futures slipped on Thursday as Wall Street continued to digest a turbulent week for technology shares.
Dow Jones Industrial Average futures (YM=F) fell 0.2%, while S&P 500 futures (ES=F) dropped 0.7% and Nasdaq 100 futures (NQ=F) slid 1.4%.
The Nasdaq Composite (^IXIC) and the S&P 500 (^GSPC) both posted their fourth consecutive daily decline this week during daytime trading.
The technology sector faces mounting pressure from expectations of a Federal Reserve interest rate increase this year, compounded by concerns over high valuations and heavy spending in artificial intelligence. Recent strong data on the Fed’s preferred inflation measure, the Personal Consumption Expenditures index, further weighed on investor sentiment.
While oil prices have retreated since the United States and Iran agreed to a 60-day ceasefire, prospects for resolving longer-term issues remain unclear, with continued reports of disruptions in the Strait of Hormuz.
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