Nasdaq futures fell 0.6% in pre-market trading as chip stocks continued to weigh on investor sentiment following a sharp selloff earlier in the week. The weakness in semiconductor shares has been a key driver of broader market declines, with traders rotating out of growth and technology stocks in response to stronger-than-expected employment data that raised concerns about interest rate hikes.
The selloff that began on June 5 after a robust jobs report has persisted into the following trading sessions, with semiconductor stocks remaining under pressure. According to Seeking Alpha’s market report, the S&P 500’s nine-week rally ended with a sharp decline as risk-off sentiment dominated, with investors moving out of high-beta and momentum stocks into value and defensive positions.
Chip stocks have been particularly vulnerable during this shift in market dynamics. Earlier in the week, major semiconductor names including Broadcom, Intel, and other chipmakers experienced significant declines as traders reassessed valuations in the face of potential rate hikes. The Philadelphia Semiconductor Index and related chip stock ETFs reflected the broader sector weakness that has extended into pre-market trading.
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Sources
- First Squawk (X/Twitter) — reported Nasdaq futures down 0.6% in pre-market trading
- Seeking Alpha — provided market analysis for June 7, 2026, detailing the end of the nine-week rally and risk-off rotation from growth stocks
- Reuters — covered the chip selloff and its impact on Nasdaq futures in early June 2026
- CNBC — reported on the Nasdaq’s decline and semiconductor stock weakness following strong employment data
