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U.S. stock futures traded lower on Wednesday. The action comes after a sharp decline in Big Tech stocks and renewed fears over the path of rate cuts spurred a selloff on Wall Street.
Futures for the Dow Jones Industrials sank 86 points, or 0.2%, to 42,717.
Futures for the S&P 500 Index dipped 18.5 points, or 0.3%, to 5,935.75.
Futures for the tech-heavy NASDAQ fell 86 points, or 0.4%, to 21,273.75.
Futures appeared to take a leg down earlier after news reports President-elect Donald Trump is considering declaring a national economic emergency to push through new tariffs.
Palantir, one of the biggest gainers in the S&P 500 last year rising more than 340%, was down for a third straight day in the premarket, losing 3%. Chipmaker Advanced Micro Devices shed nearly 3% after a downgrade by HSBC.
Investors are now looking ahead to the ADP private payrolls report and jobless claims data, both due Wednesday morning. Minutes from the Fed’s December meeting are slated for release at 2 p.m. ET.
In Japan, the Nikkei 225 shed 0.3%, while in Hong Kong, the Hang Seng index dumped 0.9%.
Oil prices gathered 56 cents to $74.81 U.S. a barrel.
Gold prices took on 80 cents to $2,666.20 U.S. an ounce.
