Nasdaq futures fell 2% as a global chip sell-off dragged the broader market lower, with Netflix among the notable decliners, according to CNBC.
Key facts
- Nasdaq futures fell 2% amid a continuing global chip sell-off, per CNBC.
- S&P 500 and Nasdaq futures dropped as the chipmaker sell-off intensified.
- Netflix slid 11%, according to CNBC.
- The U.S. continued to strike Iran overnight, CNBC reported.
Nasdaq futures fell 2% early in the session as a global sell-off in chipmakers continued to weigh on markets, according to CNBC. The decline extended pressure on the broader market after semiconductor stocks led losses.
CNBC reported that both S&P 500 and Nasdaq futures dropped as the chipmaker sell-off intensified. Chip stocks have been a key driver of the recent downturn, dragging major indexes lower.
Among individual movers, Netflix slid 11%, CNBC reported, adding to the pressure on technology-related shares.
The market moves came alongside geopolitical developments, with CNBC noting that the United States continued to strike Iran overnight. The combination of a chip-led sell-off and rising international tensions added to investor caution.
CNBC described the declines as part of an ongoing global chip sell-off, indicating the weakness was not confined to U.S. markets. The outlet provided live updates as the situation developed.
As of the reports, the broader picture pointed to sustained pressure on technology and semiconductor names, with futures signaling a lower open for major indexes.
Why it matters
Chipmakers have become a central pillar of global equity markets, so a sustained sell-off in the sector can ripple through broader indexes and investors' portfolios. Combined with continued U.S. strikes on Iran, the developments highlight how both market and geopolitical risks can weigh on sentiment at the same time.
Frequently asked questions
How much did Nasdaq futures fall?
Nasdaq futures fell 2%, according to CNBC, as the global chip sell-off continued.
Which stocks were affected?
CNBC reported a broad decline in chipmakers, and Netflix slid 11%.
What else was driving market sentiment?
CNBC noted that the United States continued to strike Iran overnight, alongside the chipmaker sell-off.