Stock futures were down Friday as a tech selloff deepens, with chip makers leading the declines.
Nasdaq 100 futures were down almost 1% while the S&P 500 futures fell 0.4%.
Recent volatility in stocks linked to artificial intelligence amounts to some profit-taking from investors rather than a fundamental break, UniCredit said. "We view this as a temporary correction within a still-intact long-term AI growth trend."
Traders are also keeping an eye on oil prices, as Brent crude was retreating again after Iran attacked a Singapore-flagged cargo ship in the Strait of Hormuz.
"The latest strike on a vessel will likely slow traffic," ING said. "However, with the broader market focused on a recovery in oil flows from the region, price momentum still appears to be to the downside."
