Stock Futures Stalled as Tech Rout Intensifies

Yesterday's tech selloff looks ready to spill over and accelerate into today, as the tech rout turns global. Futures tied to the Dow Jones Industrial Average (DJIA) are down over 200 points, while S&P 500 (SPX) futures are modestly lower too. The tech heavy Nasdaq-100 (NDX) index is bearing the brunt off the pitfall, off by over 800 points ahead of the open. Once-outperforming chip and memory stocks are getting crushed, with Micron (MU) and SanDisk (SNDK) each down 9% premarket. 

Continue reading for more on today's market, including:

• Monitor these overhead resistance levels, says Senior V.P. of Research Todd Salamone.
• "Buy" signal shines even amid CAT record run.
• Plus, more on the chip stock selloff; and IBM receives lift from analyst.

5 Things You Need to Know Today

1. The Cboe Options Exchange saw roughly 2.8 million call contracts and 1.7 million put contracts traded on Monday. The single-session equity put/call ratio rose to 0.60, while the 21-day moving average fell to 0.58. 
2. Market cap leader Nvidia (NASDAQ:NVDA) is 3% lower before the open as part of the tech sector rout. Year-over-year, the stock sports a 45% lead heading into today. 
3. Intel (NASDAQ:INTC) is not exempt from the tech carnage today, already down 7.6% premarket and poised to snap its three-day win streak. Intel stock has enjoyed a profitable year though, having added 282% for 2026.
4. International Business Machines Corp (NYSE:IBM) is up 2.7% ahead of the open after J.P. Morgan Securities issued an upgrade to "overweight" from "neutral," to go with a price-target hike to $291 from $270. Morgan Stanley chimed in with a price-target hike of its own to $267 from $225. IBM stock has shed 24% since tapping a record high of $332.41 earlier this month.

5. This week will bring several key economic indicators. 

Tech Turmoil Turns Global as Samsung, SK Hynix Cool Off

Asian markets experienced a massive selloff on Tuesday as global tech stocks tumbled. Thanks to sharp gaps lower from Samsung Electronics and SK Hynix, the South Korean Kospi dropped 10%, triggering circuit breakers twice, while Japan’s Nikkei snapped an eight-day win streak with a 3.6% loss. Hong Kong’s Hang Seng and China’s Shanghai Composite shed 1.8% and 1.4%, respectively.

European markets are feeling the heat from tech weakness as well. London’s FTSE 100 is down 0.4%, after the U.K.’s manufacturing orders shrunk at the fastest rate since 2020, while the French CAC 40 was last seen down 0.7%, and the German DAX slides 0.9%.