Tech Stocks Lead U.S. Futures Slide—Bitcoin Drops Below $96,000

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Tech Stocks Lead U.S. Futures Slide—Bitcoin Drops Below $96,000

U.S. stock futures slumped on Friday morning as major tech stocks continued to slide in premarket trading, a day after major indexes posted their worst declines in more than a month.

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Key Facts

Dow futures fell 0.55% to 47,285 points in early trading, while the benchmark S&P 500 futures slumped 0.94% to 6,696.75 points.

The tech-heavy Nasdaq Futures index was the worst hit, dropping 1.42% to 24,739.25 points.

Electric car maker Tesla shares slumped to $385, down 4.15% since Thursday‘s close, while chipmaker Nvidia’s shares dropped 2.93% to $181.40.

Other major semiconductor stocks were also hit by a premarket selloff, with AMD, Broadcom, Qualcomm, and Intel dropping 2.39%, 1.12%, 1.43%, and 2.51%, respectively.

Googles shares are down 1.55% in premarket, with Meta, Amazon and Microsoft also dropping 1.03%, 1.18% and 0.73%, respectively.

Tangent

The cryptocurrency market was also hit by a selloff, with the price of bitcoin dropping below $96,000 for the first time in six months. The world‘s most valuable cryptocurrency is down more than 6.9% over the past 24 hours, falling to $95,909.21. Ether, the token with the second-largest market cap, dropped to $3,130, down more than 10.3% over the past 24 hours. Other major cryptocurrencies, including XRP, Solana’s SOL and Binances BNB, are down 8.8%, 10.5% and 6.2% respectively.