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Nasdaq futures fall 1% as tech sell-off set to deepen

Published 02/24/2021, 01:50 AM
Updated 02/24/2021, 02:00 AM
© Reuters. U.S. flags fly out in front of the NYSE is seen in New York

(Reuters) - Futures tracking the Nasdaq 100 index fell 1% on Wednesday, sliding for a seventh straight session as investors swapped growth-oriented technology shares with stocks that stand to gain the most from an economic rebound.

Up to Tuesday's close, the broader technology-heavy Nasdaq Composite index had lost 4.5% since Feb. 12, compared with a 0.3% rise in the blue-chip Dow. The benchmark S&P 500 slipped 1.4% in the same period.

By 1:40 a.m. ET on Wednesday, Nasdaq 100 e-minis were down 109.5 points, or 0.83%, Dow e-minis were down 100 points, or 0.32%, and S&P 500 e-minis were down 15.5 points, or 0.4%.

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