Stock Futures Point Lower as Tech Selloff Continues; Bitcoin Falls to Lowest Level Since May

Stock futures pointed lower Friday, a day after major indexes posted sharp declines as tech shares tumbled. 

Futures associated with the tech-heavy Nasdaq, benchmark S&P 500 and blue-chip Dow Jones Industrial Average were down a respective 1.2%, 0.7%, and 0.5%. Yesterday, they finished a respective 2.3%, 1.7%, and 1.7% lower, with the Dow shedding about 800 points.

Late Wednesday, President Donald Trump signed into law a bill to fund the federal government until Jan. 30 and end the record 43-day shutdown. However, traders increasingly seem concerned about the impact of delayed releases of economic indicators that weren’t issued during the shutdown, with the CME Group’s FedWatch tool now indicating a less-than-50% chance that the Federal Reserve will cut interest rates by a quarter percentage point, down from 67% last Friday.

In addition, investors again appear spooked by high valuations of big tech companies, with shares of Tesla (TSLA), Palantir Technologies (PLTR), Arm Holdings (ARM), AppLovin (APP), Intel (INTC), Nvidia (NVDA), Advanced Micro Devices (AMD), and Broadcom (AVGO) all finishing trading yesterday down roughly 3.5% to 7% to help pull the Nasdaq lower.

Tesla shares were down roughly 4% further in premarket trading, while Palantir, AppLovin, Intel, Nvidia, AMD, Arm, and Broadcom also pointed lower.

With tech stocks sinking and risk-off sentiment intensifying, Bitcoin sank to about $96,200, its lowest level since early May. Crypto-tied stocks Strategy (MSTR), Robinhood Markets (HOOD), Coinbase Global (COIN), and MARA Holdings (MARA) pointed sharply lower after all sank yesterday.

The yield on the 10-year Treasury note rose to 4.13% from 4.11% at Thursday’s close. The U.S. dollar index, which tracks the performance of the dollar against a basket of foreign currencies, advanced 0.2% to 99.20. Gold futures declined about 1% to $4,155 per ounce. WTI crude futures, the U.S. oil benchmark, surged 2.5% to $60.20 per barrel.

Elsewhere, shares of StubHub (STUB) plummeted 20% after the ticket reseller did not issue current-quarter or fiscal 2026 guidance; Warner Bros. Discovery (WBD) stock rose about 4% on a report that Paramount Skydance (PSKY), Comcast (CMCSA), and Netflix (NFLX) were preparing bids for the media and entertainment company; and Applied Materials (AMAT) shares dropped 6% after CEO Gary Dickerson warned on the earnings call that “in 2026, we expect wafer fab equipment spending in China to be lower.