On Wednesday, stock futures declined as investors continued to pull out of speculative technology shares.
Futures for the Dow Jones Industrial Average were down 128 points, or 0.3%. Futures for the Nasdaq-100 and the S&P 500 fell 1.5% and 1%, respectively. Before the bell, Apple and Tesla both experienced small declines of about 2%.
This is 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 report by Bloomberg News indicating 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)
