Join today and have your say! It’s FREE!

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.

or

Sign In

Please Try Again
{{ error }}
Password Hint : {{passwordHint}}
Forgot Password?

or

Please Try Again {{ error }}

Send my password

SUCCESS
An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.

Tech Selloff Weighs on U.S. Markets

TSLA

Stock futures fell on Tuesday as investors continued to dump technology stocks.

Futures for the Dow Jones Industrials tumbled 186 points, or 0.5%, to 34,482.

Futures for the S&P 500 dwindled 36.5 points, or 0.8%, to 4,147.

Futures for the NASDAQ Composite index faded 197 points, or 1.5%, to 13,159.75.

Shares of Big Tech stocks were all in the red once again Tuesday. Facebook, Apple and Amazon were all down more than 1.5% in pre-market trading.

Tesla shares fell nearly 4% in pre-market trading as Reuters reported the electric carmaker and bellwether growth play halted plans to expand its Shanghai plant into an export hub.

Big Tech got clobbered on Monday as investors exited stocks like Apple and Microsoft, dragging the Dow and the S&P 500 off their record highs in the process. Both of those stocks lost at least 2% to start the week.

Simon Property Group saw its stock retreat about 3% in the pre-market despite better-than-expected numbers. The real estate property manager reported first-quarter earnings of $1.36 per share on revenues of $1.15 billion.

Electronic Arts, Chesapeake Energy, Hanesbrands, and Palantir Technologies will all deliver earnings results on Tuesday.

The U.S. Labor Department will on Tuesday publish the latest results of its Job Openings and Labor Turnover Survey. Several high-ranking Federal Reserve officials, including Governor Lael Brainard and New York Fed President John Williams, are also scheduled to deliver remarks.

Overseas, in Japan, the Nikkei 225 stumbled 3.1%, while in Hong Kong, the Hang Seng index sank 2% Tuesday.

Oil prices dumped 66 cents to $64.26 U.S. a barrel.

Gold prices hiked $3.90 to $1,841.50 U.S.



Get the latest news and updates from Stockhouse on social media

Follow STOCKHOUSE Today