Stock futures were mostly down Tuesday as oil continued to fall and fears of AI spending triggered a selloff in tech shares.
Nasdaq futures slid following a 10% tumble for South Korea's Kospi index, which was led by sharp declines for SK Hynix and Samsung Electronics.
"Tech concerns have been the dominant driver in Asia this morning as renewed worries over AI investment spending, and competition from cheaper Chinese companies, have triggered another selloff in global semiconductor stocks," Deutsche Bank said.
Meanwhile, Brent crude slid more than 2% to about $84 a barrel after settling 8.7% lower in the previous session.
Investors are now looking ahead to the Federal Reserve's policy decision on Wednesday. Analysts widely expect the Fed to stay on hold but money markets price in a 38% probability of a hike, according to LSEG.
