Nasdaq futures drive losses as megacap tech, chip stocks sell off
For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window.
Chip stocks fall on China trade worries, tech rout
J&J down after cutting annual profit forecast
Lilly slumps as rival Roche reports early data for obesity pill
Spirit Airlines shares slip after lowered Q2 forecast
Futures down: Dow 0.21%, S&P 500 0.81%, Nasdaq 1.28%
Updated at 7:02 a.m. ET/1102 GMT
By Lisa Pauline Mattackal and Ankika Biswas
July 17 (Reuters) - Nasdaq futures shed over 1% on Wednesday, leading losses among the main U.S. indexes as megacap chip and tech stocks tumbled in a broad market decline amid a deluge of corporate results and the prospect of tougher trade restrictions on Chinese chips.
Megacaps such as Apple AAPL.O, Microsoft MSFT.O and Meta Platforms <META.O> lost between 1% and 2% before the opening bell.
Shares of semiconductor companies also fell, with AI-chip favorite Nvidia NVDA.O sliding 3.5% and ASML's U.S.-listing ASML.O dropping 7.5% after a report the Biden Administration was considering severetrade restrictions as part of a crackdown on Chinese chips.
Elsewhere, U.S.-listed shares of Taiwan Semiconductor Manufacturing TSM.N shed 4.3% after Republican presidential candidate Donald Trump said Taiwan should pay the U.S. for its defense.
Marvell Technology MRVL.O, Broadcom AVGO.O, Qualcomm QCOM.O, Micron Technology MU.O, Advanced Micro Devices AMD.O and Arm Holdings ARM.O were also down between 2.7% and 4%.
Wall Street's "fear gauge" .VIX briefly touched a more than six-week high in early trading, signaling investor unease.
Trade Nation senior market analyst David Morrison cited profit-taking among the likely causes for Wednesday's dip in futures.
The Dow Jones Industrial Average .DJI and the S&P 500 .SPX had closed at all-time highs on Tuesday.
After a blistering rally in tech companies since the last leg of 2023, investors are now moving to hitherto underperforming areas of the market on growing bets that the Federal Reserve is nearing the start of interest-rate cuts.
Futures tracking the Russell 2000 RTYcv1 fell 0.3% afterthe small-cap index.RUT rallied nearly 12% overthe last five sessions.
"It could be the rally has been running on fumes recently... what we're seeing now is a generalized pullback, which is totally consistent with consolidation and profit-taking after record highs in the major indices," Morrison said.
Firmer bets on a Fed rate cut in September as well as rising expectations that former President Donald Trump will be back in the White House in November following theattempt on his life havehelped lift stocks over the past few sessions.
Investors will focus on comments from Fed officials Thomas Barkin and Christopher Waller later in the day for clues on how policymakers have assessed recent inflation, employment and retail sales data.
On the earnings front, J&J JNJ.N slipped 0.4%, but pared losses after the drug and device maker lowered itsannual earnings outlook.
In the day's economic data, housing starts and industrial production data for June are due before market open.
At 7:02 a.m. ET, Dow e-minis 1YMcv1 were down 86 points, or 0.21%, S&P 500 e-minis EScv1 were down 46.5 points, or 0.81%, and Nasdaq 100 e-minis NQcv1 were down 264 points, or 1.28%.
Among others, U.S. drugmaker Eli Lilly LLY.N fell2.8% after Swiss rival Roche's ROG.S promising early-stage data from anexperimental obesity pill, which it acquired as part of its buyout of Carmot Therapeutics.
Trucking firm JB Hunt Transport Services JBHT.O fell 3% following a 24% drop in second-quarter profit.
Spirit Airlines SAVE.N slumped 6.6% after lowering its second-quarter revenue outlook, citing lower-than-expected non-ticket revenue.
Reporting by Lisa Mattackal and Ankika Biswas in Bengaluru; Editing by Pooja Desai
免責聲明: XM Group提供線上交易平台的登入和執行服務，允許個人查看和/或使用網站所提供的內容，但不進行任何更改或擴展其服務和訪問權限，並受以下條款與條例約束：（i）條款與條例；（ii）風險提示；（iii）完全免責聲明。網站內部所提供的所有資訊，僅限於一般資訊用途。請注意，我們所有的線上交易平台內容並不構成，也不被視為進入金融市場交易的邀約或邀請 。金融市場交易會對您的投資帶來重大風險。
所有缐上交易平台所發佈的資料，僅適用於教育/資訊類用途，不包含也不應被視爲適用於金融、投資稅或交易相關諮詢和建議，或是交易價格紀錄，或是任何金融商品或非應邀途徑的金融相關優惠的交易邀約或邀請。
本網站的所有XM和第三方所提供的内容，包括意見、新聞、研究、分析、價格其他資訊和第三方網站鏈接，皆爲‘按原狀’，並作爲一般市場評論所提供，而非投資建議。請理解和接受，所有被歸類為投資研究範圍的相關内容，並非爲了促進投資研究獨立性，而根據法律要求所編寫，而是被視爲符合營銷傳播相關法律與法規所編寫的内容。請確保您已詳讀並完全理解我們的非獨立投資研究提示和風險提示資訊，相關詳情請點擊 這裡查看。
