US futures showed mixed moves ahead of Friday’s open after a notable sell-off in technology stocks on Thursday. Investors are cautious: attention is focused on incoming euro area, German and French purchasing managers' indices (PMIs) and UK retail data today, while markets are already weighing the odds for next week’s US interest-rate decision.
Oil prices and geopolitics
Crude oil continued to rise on Friday, with Brent futures climbing above $114 per barrel. According to the Wall Street Journal, the increase reflects heightened market uncertainty driven by fears of renewed US–Iran tensions and fresh attacks on Saudi energy infrastructure.
Sharp drop in tech shares
During Thursday’s US session the S&P 500 fell 1.2 percent—its weakest daily performance since July—while the Nasdaq Composite plunged 2.6 percent, the largest daily loss since June. The Dow Jones, by contrast, finished slightly higher.
The sell-off was sparked by worries around artificial intelligence investments, which pulled the broader technology sector down roughly 3 percent. Notable moves included Nvidia falling 4.4 percent, Alphabet down 3.2 percent, and AMD tumbling 8.1 percent.
International markets
In Europe the Stoxx 600 index was down 0.19 percent at Friday’s open. The decline was led by Germany’s DAX (-0.4 percent), while France’s CAC 40 fell 0.25 percent and the UK’s FTSE 100 slipped 0.1 percent.
Asia showed mixed action: South Korea’s Kospi gained 0.3 percent, China’s CSI 300 stood out with a 1.71 percent rise, whereas Japan’s Nikkei 225 lost 0.34 percent and Australia’s S&P/ASX 200 essentially ended at Thursday’s closing level.
Euro area private sector slowdown
S&P Global Market Intelligence’s preliminary purchasing managers’ index indicated that euro area private-sector growth slowed in October to its weakest pace in four months. The slowdown was attributed to rising energy costs and political uncertainty in France, which strongly weighed on economic activity.
Why this matters
The combination of a tech-led sell-off, rapidly rising oil prices and weaker euro-area PMIs is increasing market uncertainty. Investors are monitoring short-term macro data and geopolitical developments closely while pricing in potential implications of next week’s US rate decision.
(This article does not constitute investment advice or a recommendation.)
