Global markets are experiencing a significant downturn, driven by a broad selloff in the technology sector. US futures are trading lower, following overnight weakness in Asian and European markets, with cryptocurrencies also declining.
Stocks to Watch:
- FedEx Corporation: Reports earnings after the market close today, with options markets implying a significant price move.
- Carnival Corporation: Set to release its earnings report before the market opens this morning.
- Micron Technology, Inc.: Shares slumped over 8% in pre-market trading amid a widespread selloff driven by AI concerns.
- NVIDIA Corporation: Extended recent losses, dropping more than 3% pre-market as part of the rout in chipmaker stocks.
With no major economic indicators scheduled today, investors will be monitoring for any shifts in expectations regarding future Federal Reserve interest rate policy.