US pre-open: Futures in the red as tech stocks continue to weigh on Nasdaq
Wall Street futures pointed to more losses ahead of the bell on Friday, with investors continuing to cycle out of tech stocks prior to the open.
As of 1220 GMT, Dow Jones futures were down 0.08%, while S&P 500 and Nasdaq-100 futures had the indices opening 0.26% and 0.68% weaker, respectively.
The Dow closed 25.79 points lower on Thursday, retreating from the gains it recorded on Wednesday, while the Nasdaq turned in its worst performance in almost three months, as investors reacted to increasingly hawkish central banks.
Central banks were still in focus before the open after the Federal Reserve said it would begin dialling back the pace of its asset purchases in January by purchasing just $60.0bn worth of bonds each month, down from $90.0bn in December.
Elsewhere, the European Central Bank left rates unchanged as it said it would phase out its emergency bond-buying programme and increase other stimulus measures, while the Bank of England voted for a surprise increase in interest rates to 0.25% in a bid to stop inflation from taking hold, with prices rising faster than expected.
Tech stocks were weighing on indices again before trading, with Nvidia and Tesla both trading lower, while FedEx shares were in the green after the logistics giant posted quarterly earnings and revenues overnight that topped expectations.
In terms of earnings, Winnebago will report before the opening bell.
No major data points were slated for release on Friday.