US pre-open: Futures in the red as tech sell-off continues
Wall Street futures had stocks opening lower ahead of the bell on Tuesday as yesterday's tech sell-off looked set to continue for another session.
As of 1240 BST, Dow Jones futures were down 0.47%, while S&P 500 and Nasdaq futures had the indices opening 0.82% and 1.43% weaker, respectively.
The Dow closed 34.94 points lower on Monday as last week's ransomware attack on a major US fuel pipeline and a rotation out of growth stocks both dominated headlines.
SpreadEx's Connor Campbell said: "The tech slide not only gave the Nasdaq its worst day since March but prevented the Dow Jones from closing above 35,000 for the first time in its history.
"At present, the Dow Jones is expected to avoid the same level of losses as Europe, with the futures indicating a 0.4%, or 145-point, decline. That would leave the Dow around 20 points above 34,600."
In focus ahead of the bell, big tech stocks were again in the red prior to the open, with shares in Facebook, Apple, Amazon and Tesla all moving lower in pre-market trading.
Elsewhere in the corporate space, Electronic Arts, Chesapeake Energy and Hanesbrands were all slated to publish their latest quarterly report cards on Tuesday.
On the macro front, both small and large US businesses moved to increase wages and benefits as part of an effort to attract workers amid rising demand for their goods and services, according to the National Federation of Independent Business' small-business optimism, which index advanced 1.6 points in April to a pandemic-era high of 99.8. However, the reading was one point shy of the 100.8 print expected by the Street.
Still to come, March's JOLTs job openings report will be released at 1500 BST.
A veritable array of Federal Reserve speeches will also take place throughout the course of the day, with John Williams, Lael Brainard, Mary Daly, Raphael Bostic and Patrick Harker all set to deliver comments on Tuesday.