Global tech stocks declined ahead of the U.S. jobs report, with Asian chip stocks falling sharply and U.S. futures pointing to further losses. The jobs data, due at 8:30 a.m. ET, is expected to show the U.S. added more than 100,000 jobs in June for the fourth consecutive month, the longest such streak since early 2024. Nasdaq 100 futures slipped, and chip stocks Micron and Nvidia fell in premarket trading. Losses were heavier in Seoul and Tokyo, where Kioxia, a memory-chip company that recently became Japan's highest-valued company, also slid. Oil prices extended their decline, with Brent crude futures at their cheapest since the week before the U.S. attacked Iran, while the yen strengthened against the dollar after hitting a 40-year low earlier in the week, prompting traders to watch for possible intervention by Japanese authorities.
Kioxia Holdings CorporationKioxia slid as Asian chip stocks fell sharply.
Micron Technology IncMicron fell in premarket trading amid broad tech selloff ahead of jobs report.
NVIDIA CorporationNvidia fell in premarket trading as part of global tech stock decline.