Key facts
- Nasdaq 100 futures dropped 1.0-1.2%, S&P 500 futures fell 0.5-0.6%, Dow futures edged higher.
- Broadcom's revenue guidance missed expectations, causing a tech selloff.
- The May jobs report is expected to show 105,000 new jobs added.
- Bitcoin fell 2.2% to $62,136, tracking the risk-off mood.
- Brent crude fell to $94.66 a barrel on hopes of a US-Iran deal.
Investors pulled back from tech stocks on Friday morning as Nasdaq futures dropped ahead of the May jobs report, signaling a potential halt to the AI-driven rally. Nasdaq 100 futures fell between 1.0% and 1.2%, while S&P 500 futures slipped around 0.5% to 0.6%. Dow futures edged slightly higher. The tech sector came under pressure after chipmaker Broadcom reported revenue guidance below market expectations, triggering a selloff that extended into Asian markets. South Korea's Kospi index slumped 5.5%. The May nonfarm payrolls report, expected to show 105,000 new jobs added, is closely watched for signals on Federal Reserve interest rate policy. A report in that range could reinforce the Fed's cautious stance. Bitcoin dropped 2.2% to $62,136, reflecting the broader risk-off tone. Oil prices also slipped, with Brent crude falling to $94.66 a barrel amid hopes of a US-Iran deal. The dollar edged lower, and the 10-year Treasury yield fell to 4.47%.