Stock

Nasdaq futures fall 2% as tech sell-off resumes

© Reuters. The facade of the NYSE can be seen in New York

(Reuters) – Futures, which track the 2% decline on Tuesday, on the first full day of trading after SoftBank made significant option purchases during a Wall Street rally since a coronavirus crash in March, according to a report.

SoftBank spent around $ 10 billion buying stocks, and sources told Reuters that it had bought more derivatives on U.S. stocks. The Financial Times reported on these derivative purchases for the first time on Friday.

The Tech Street-sponsored rally on Wall Street halted last week and the Nasdaq fell 3.3% in its worst week since the peak of the March pandemic sell-off. The S&P 500 () benchmark fell 2.3% and had a five-week winning streak.

At 6:01 a.m. ET, the S&P 500 E-Minis fell 271.75 points or 2.35%, 20.75 points or 0.61%, and 10 points or 0.04%.

Tesla Inc (O 🙂 slumped 11% in premarket trading after the electric car maker was banned from a group of companies added to the S&P 500.

(The story corrects the day in the first paragraph to Tuesday from Monday)

Disclaimer: Fusion Media would like to remind you that the information contained on this website is not necessarily real-time or accurate. All CFDs (stocks, indices, futures) and Forex prices are not provided by exchanges, but by market makers. As a result, prices may not be accurate and may differ from the actual market price. This means that the prices are indicative and not suitable for trading purposes. Therefore, Fusion Media is not responsible for any trading loss you may incur as a result of using this information.

Fusion Media or any person involved with Fusion Media assumes no liability for any loss or damage caused by reliance on information such as data, offers, charts and buy / sell signals contained on this website. Please be fully informed about the risks and costs associated with trading in the financial markets. This is one of the riskiest forms of investment possible.

Related Articles