U.S. stock futures extended declines early after Wall Street posted its sharpest single-day decline in a month. Futures on the Nasdaq 100 (NDX), the S&P 500 (SPX), and the Dow Jones Industrial Average (DJIA) were down 0.52%, 0.29%, and 0.13%, respectively, at 3:47 a.m. EST on November 14.
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During Thursday’s regular trading session, all three major indexes finished lower amid uncertainty over the Federal Reserve’s next policy move and a steep sell-off in technology shares. The Dow Jones fell 1.65%, wiping out Wednesday’s gains. The Nasdaq and S&P 500 also retreated, falling 2.29% and 1.66%, respectively. Technology stocks led the downturn, with Nvidia (NVDA) dropping 3.6% and Broadcom (AVGO) sliding 4.3%.
Traders are increasingly uncertain about the Federal Reserve cutting interest rates in December. The recent end of a six-week government shutdown has added to market uncertainty, as several key economic data may not be released, potentially complicating the Fed’s decision-making process.
With earnings season drawing to a close, notable companies reporting Friday include Li Auto (LI), Quantum Computing (QUBT), Bit Digital (BTBT), and Hive Digital (HIVE).
Notably, the U.S. 10-year Treasury yield was up, floating near 4.13%. WTI crude oil futures were trending higher, hovering near $59.62 per barrel as of the last check. Additionally, the Gold Spot U.S. dollar price decreased to nearly $4,177 per ounce on Friday.
Elsewhere, in Europe, markets opened lower on Friday as fears over a potential artificial intelligence bubble and broader economic slowdown weighed on investor sentiment.
Asia-Pacific Markets Traded Lower
Asia-Pacific markets also traded lower on Friday, tracking Wall Street losses. Chinese markets fell as the country’s slowdown deepened in October, pressured by weak consumer demand and an ongoing property slump.
Hong Kong’s Hang Seng index dropped 1.85%. In China, the Shanghai Composite lost 0.97%, while the Shenzhen Component declined 1.53%. Meanwhile, Japan’s Nikkei fell 1.77%, and the Topix slipped 0.65%.
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