U.S. index futures declined Tuesday as a continued sell-off in chip stocks, which have driven the AI-driven bull market, persisted.
Investors also monitored the oil market after President Donald Trump canceled planned attacks on Iran, and bond yields remained near multi-year highs, raising concerns about increased pressure on U.S. consumers.
Futures for the S&P 500 fell 0.4%, while Nasdaq 100 futures declined 0.6%. Dow Jones Industrial Average futures dropped 77 points, or 0.2%.
Shares of Micron dropped 2% before the opening bell, marking their fourth consecutive day of declines amid fears that the AI-driven rally in memory chipmakers may have gone too far too fast.
Despite this, Micron remains up over 138% for the year.
The stock also declined on Monday following Seagate Technology’s 7% drop after warning about demand, and Seagate fell another 3% on Tuesday.
Source (CNBC)
