US pre-open: Futures lower as tech sell-off deepens
By Iain Gilbert
Date: Friday 26 Jun 2026
(Sharecast News) - Wall Street futures were in the red ahead of the open on Friday as a sell‑off in technology shares deepened amid growing concerns over the rising cost of artificial‑intelligence infrastructure.
As of 1245 BST, Dow Jones futures were down 0.12%, while S&P 500 and Nasdaq-100 futures had the indices opening 0.50% and 1.23% lower, respectively.
The Dow closed 71.72 points higher on Thursday, extending gains recorded in the previous session, while both the S&P 500 and Nasdaq ended the day lower.
Friday's pre-market moves extended Thursday's weakness, when investors rotated out of major tech names, weighing on the Nasdaq and broader global markets. On Thursday, Apple dropped 6% after announcing price increases for its iPad and MacBook ranges, citing higher memory and storage costs, while Microsoft fell more than 3% after revealing plans to raise prices on its Xbox consoles due to surging component expenses.
Other large tech groups also declined, with Alphabet closing nearly 1% lower and Meta Platforms down more than 2%, as worries mounted that rising chip prices could pressure margins across the sector.
Trade Nation's David Morrison said: the prospect of increased borrowing costs is headwind for equity markets, as are the rising costs of developing AI. With the major US indices at or near al-time highs, the risks for investors who have benefitted handsomely from going 'all in' on the AI trade, are getting bigger. And everyone is convinced that they can get out of the market at the top all at once. There's going to be plenty of disappointment and angst when they find out they can't."
On the macro front, preliminary readings of May goods trade balance and wholesale inventories figures will be published at 1330 BST, while the University of Michigan's June consumer sentiment index will follow at 1500 BST.
Reporting by Iain Gilbert at Sharecast.com
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