FX.co ★ US Futures Edge Lower After Tech-Led Rout

US stock futures drifted lower on Monday after Wall Street suffered a sharp selloff in the prior session, led by steep declines in semiconductor and other technology shares. Investors also weighed rising geopolitical risks after Iran fired several rounds of missiles toward Israel as a warning against further military action in Lebanon, adding uncertainty at a time when ceasefire efforts remain fragile and peace talks show little progress. On Friday, the tech-heavy Nasdaq Composite sank 4.18%, its worst performance since April 2025, while the S&P 500 and Dow Jones fell 2.64% and 1.35%, respectively. Chipmakers were among the hardest hit, including Micron (-13.3%), Nvidia (-6.2%), Marvell (-16.7%), Advanced Micro Devices (-10.9%) and SanDisk (-11.4%). The downturn was further pressured by a stronger-than-expected May jobs report, which pushed Treasury yields higher and reinforced expectations that the Federal Reserve could raise interest rates later this year.