Wednesday saw a decline in stock futures as investors continued to pull out of speculative technology stocks.
Futures for the Dow Jones Industrial Average dropped 146 points, or 0.4%. Futures on the Nasdaq-100 and S&P 500 fell 1.6% and 1.1%, respectively. Prior to the bell, Apple and Tesla both experienced 2% declines.
That provided the most recent indication that investors are retreating from megacap technology following the company’s incredible run this year as the market became interested in artificial intelligence.
Following a Bloomberg News story stating that the Biden administration is mulling stricter trade restrictions if corporations continue to provide China access to U.S.-made technology, semiconductor stocks suffered particularly within the tech sector.
Source (CNBC)
