The SPDR S&P 500 ETF Trust (SPY) fell around 0.9% in pre-open trading as investors moved away from riskier assets. Disappointing earnings outlooks from major technology companies raised concerns about high valuations and future growth, particularly in the AI sector.
Escalating Middle East tensions also drove a sharp spike in global oil prices. Stock index futures pointed to a lower open as technology-sector weakness and rising energy costs pressured markets.