U.S. stock futures fell on Tuesday morning amid concerns over rising bond yields and a continued sell-off in chip stocks. Persistent tensions in the Middle East also weighed on investor sentiment. Futures on the Nasdaq 100 (NDX), the S&P 500 (SPX), and the Dow Jones Industrial Average (DJIA) were down 0.78%, 0.41%, and 0.18%, respectively, at 8:35 a.m. EDT on May 19.
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At the time of writing, Brent crude (CM:BZ) was down 1.40% to about $110.52 per barrel, while WTI crude (CM:CL) fell 0.44% to $108.88.
In Monday’s regular trading session, the Nasdaq Composite and the S&P 500 fell 0.51% and 0.07%, respectively, while the Dow Jones added 0.32%. Notably, memory chip stocks fell on Monday after Seagate Technology (STX) CEO Dave Mosley said the company may struggle to keep up with rising AI demand. Seagate stock dropped nearly 7%, while Micron Technology (MU) fell 6%.
Chip stocks, which have been driving the AI rally, continued to decline this morning. MU stock was down about 3%, while STX shares fell more than 3%. Alphabet (GOOGL) stock trended modestly higher on news that Google has teamed up with alternative asset manager Blackstone (BX) to create a new AI cloud company.
Meanwhile, Home Depot (HD) stock was down about 1% in Tuesday’s pre-market despite the home improvement retailer reporting better-than-expected Q1 FY26 results.