By Oliver Gray
Investing.com - U.S. stock futures continued their decline in early APAC deals on Friday after major benchmark indices retreated broadly during Thursday's session as the prospect of rising interest rates pressured technology stocks.
During Thursday’s regular deals, the Dow shed 313.26 points, or 0.89% to 34715.4, the S&P 500 declined 50.03 points or 1.1% to 4482.74 and the Nasdaq Composite finished 186.23 points or 1.3% lower to 14154.02.
Dow Jones Futures were down 0.28%, S&P 500 Futures lost 0.58% and Nasdaq 100 Futures fell 0.9%.
Among stocks, major tech players all finished lower, with Block Inc (NYSE:SQ) down 0.44%, Amazon.com Inc (NASDAQ:AMZN) losing 2.96%, Microsoft Corporation (NASDAQ:MSFT) falling 0.57%, Meta Platforms Inc (NASDAQ:FB) down 0.95%, Apple Inc (NASDAQ:AAPL) dipping 1.03%, Alphabet Inc (NASDAQ:GOOGL) falling 1.34%, Adobe Systems Incorporated (NASDAQ:ADBE) down 1.11%, NVIDIA Corporation (NASDAQ:NVDA) losing 4.97%, Micron Technology Inc (NASDAQ:MU) shedding 5.48% and NXP Semiconductors NV (NASDAQ:NXPI) retreating 5.38%.
EV makers were mostly lower with Rivian Automotive Inc (NASDAQ:RIVN) and Lucid Group Inc (NASDAQ:LCID) down 6.31% and 3.27% respectively, while Tesla Inc (NASDAQ:TSLA) eked out a 0.06% gain.
Financial heavyweights were mostly lower with JPMorgan Chase & Co (NYSE:JPM) down 0.85%, Citizens Financial Group Inc (NYSE:CFG) shedding 4.05%, Bank of America Corp (NYSE:BAC) down 1.49% and Wells Fargo & Company (NYSE:WFC) losing 1.03% while Citigroup Inc (NYSE:C) and Morgan Stanley (NYSE:MS) adding 0.34% and 4.28% respectively.
Meantime, Peloton Interactive Inc (NASDAQ:PTON) plunged 23.93% after CNBC reported that the company is temporarily halting production of its fitness products.
In extended deals, Netflix Inc (NASDAQ:NFLX) crashed 20% after the company’s fourth-quarter earnings report showed a slowdown in subscriber growth.
On the bond markets, United States 10-Year yields eased from 2-year highs to 1.811% ahead of the Federal Reserve’s two-day meeting next week.