U.S. stock futures were lower this morning, with the Nasdaq 100 futures falling more than 2% on Tuesday.

Shares of Taiwan Semiconductor Manufacturing Co.

Ltd.

(NYSE:TSM) fell sharply in pre-market trading as semiconductor stocks came under pressure amid a broad risk-off move in U.S. index futures.

TSM’s decline tracked weakness across the semiconductor sector as investors reduced exposure to growth stocks ahead of the market open.