U.S. stock futures tied to the S&P 500 and Nasdaq pointed lower as selling pressure in chipmakers intensified, signaling more weakness for technology shares at the start of trading. The move followed a difficult session for the broader market, with investors showing fresh caution toward sectors tied closely to the artificial intelligence boom.
On Friday, the S&P 500 fell 0.7% as concerns about AI-related spending weighed on sentiment and dragged major tech names lower. The decline left the benchmark on track for a weekly loss, reflecting a broader pullback in risk appetite after recent market strength.
Semiconductor stocks remained at the center of the downturn, with the chipmaker sell-off spreading through the tech complex and putting additional pressure on Nasdaq-linked futures. Investors appeared to be reassessing how much future spending on AI can support current valuations across the sector.
Adding to the cautious tone, geopolitical uncertainty also stayed in focus after overnight U.S. strikes involving Iran. Netflix shares were also under pressure, sliding 11%, adding another notable source of weakness in a market already facing renewed volatility.
