U.S. stock futures down on Friday, indicating the losses in the open market, that parts of the market may extend losses after a burst of volatility in high-flying technology stocks prompted the biggest slump in the S&P 500 in almost last three months.
On Thursday U.S stocks in the broad market gauge declined 3.5% in its biggest retreat since June 11, leaving the S&P 500 on track for its first weekly loss in six weeks. U.S. Stock Futures tied to the S&P 500 waver between gains and losses.
The NASDAQ Composite futures slipped 1%, suggesting the tech-heavy index could come under further pressure after declining 5% on Thursday. The gauge’s one-day point drop was its largest in almost six months.
U.S Market has witnessed tech sector’s selloff, mainly was driven by a retreat in many of the companies that drove the rally in U.S. stocks in recent months. There is a record $180 billion was erased from Apple Inc.’s market valuation on Thursday, after the stock dropped 8%. That 8% decline in Apple Stock is the most that any American company has ever lost in a single day. This year, Apple’s Stock is up 65% and the shares ticked down 1.8% in premarket trading.
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