September S&P 500 E-Mini futures (ESU26) are down -0.19%, and September Nasdaq 100 E-Mini futures (NQU26) are down -0.59% this morning, pointing to a lower open on Wall Street as chipmakers came under pressure at the start of a pivotal week.
Chip and AI infrastructure stocks were among the biggest losers in pre-market trading, following a slump in major tech names across Asia. Samsung Electronics sank over -8% in Seoul after the chipmaker’s record shareholder return plan disappointed investors. Also, Alibaba Group tumbled more than -8% in Hong Kong after the tech heavyweight raised HK$80 billion ($10.2 billion) in the city’s largest secondary share offering. In addition, SoftBank Group slid over -5% in Tokyo after announcing plans for a record 1 trillion yen ($6.3 billion) retail bond sale to finance its AI investments.
