U.S. stock futures slipped early Thursday as chipmakers pointed to a weak open. Micron Technology and Applied Materials both dropped more than 3% in premarket trading.
The decline in tech stocks came as investors continued to pull back from riskier assets. Pressure mounted across global markets, with bonds extending their recent selloff.
Oil prices held above $90 a barrel, adding to concerns about sustained inflation. Higher energy costs threaten to keep central banks on a restrictive path for longer.
The bond rout deepened as yields climbed in major economies. Investors have grown wary of prolonged rate hikes, especially after recent data showed resilient demand.
Markets now face a mix of stubborn price pressures and slowing growth expectations. That combination has weighed on equities, particularly in rate-sensitive sectors.
Semiconductor stocks led the decline, reflecting broader worries about future earnings. The sector had rallied earlier this year on hopes of a demand rebound.
Traders are watching upcoming economic reports for signals on the Federal Reserve’s next move. Any sign of easing inflation could soothe markets, but none has emerged so far.
The focus remains on oil and its ripple effects. With supply tight and prices elevated, the outlook for both bonds and stocks stays uncertain.
