Nasdaq Futures Fall on Chip Weakness Ahead of Bank Earnings
U.S. stock futures were mixed, with Nasdaq contracts lower as semiconductor and memory shares extended losses tied to competitive concerns from China. Asian markets diverged, with South Korea's Kospi plunging more than 6%, while European indexes advanced and Treasury yields eased. The session was set to include major bank and health-care earnings, plus existing-home sales and inflation data later in the week.
Nasdaq futures dropped 0.55% to 30,729, while S&P 500 contracts slipped slightly and Dow futures gained 0.31%. Chip weakness centered on memory names such as MU, SNDK, WDC and SKHY, extending prior losses after analysts linked China’s CXMT advances to potential competition with Samsung and SK Hynix.
Overseas, South Korea’s Kospi fell 6.25%, Japan’s Nikkei lost 1.82%, and European benchmarks rose. Treasury yields eased, with the 10-year down 5 basis points to 5.19%, as oil and the dollar softened. Bank and health-care results were due, including JPM, WFC, UNH and JNJ.
The chip selloff could weigh on investors with technology-heavy portfolios and may affect retirement accounts and pension funds tied to equities. A steep Kospi drop may hit South Korean households and exporters, while lower Treasury yields and oil prices could ease borrowing and fuel costs. Upcoming bank and health-care earnings may shape confidence in lending, hiring, and medical spending, though market moves alone do not determine broader economic outcomes.