By Dow Jones Newswires Staff
Futures for the Nasdaq led U.S. stock indexes lower in early European premarket trade as investors continued to pull back from technology stocks ahead of the publication of crucial jobs data Friday.
Oil prices edged lower after rising in the last session. A renewed ceasefire between Israel and Lebanon faced immediate strain.
Asian technology stocks slid, with South Korean chip stocks falling sharply. The selloff continued in European trade, while futures for Nasdaq were more than 1% lower. Cryptocurrencies tumbled as investors pulled back from risk across their portfolios, with bitcoin hitting a four-month low.
U.S. nonfarm payrolls report will be closely watched by investors looking to anticipate Federal Reserve policy. U.S. Treasurys were steady and the dollar edged slightly lower ahead of the release.
--Oil prices slipped in early trading, but are headed for weekly gains as renewed tensions in the Middle East damped hopes for an imminent, gradual reopening of the Strait of Hormuz. Brent crude was down 0.4% to $94.67 a barrel, while WTI futures fell 0.7% to $92.41 a barrel. The benchmarks were on track for gains of about 2% and 4%, respectively. "The oil market continues to trade on expectations of an imminent resumption in energy flows from the Persian Gulf," analysts at ING said. "This leaves significant upside risk as inventories fall and we move closer towards the stronger demand period of the third quarter."
--In the U.S., futures for the S&P 500 were down 0.7% while futures for the tech-heavy Nasdaq slid 1.2%. The Dow Jones Industrial Average was flat premarket after closing at a fresh record Thursday.
Lululemon fell over 11% in after-hours trade after cutting its year-ahead guidance, while Micron Technology was among the big tech losers in extended trade, falling close to 5%.
--South Korean chip stocks fell sharply on Friday, tracking their U.S. peers' overnight retreat and prompting the stock market operator to briefly halt trading to reduce volatility. Shares of SK Hynix, a leading high-bandwidth-memory supplier for Nvidia, fell 9.9% as of early afternoon trade. Samsung Electronics, the world's top memory-chip maker, lost 6.4%. The Kospi 200 fell 6%. Semiconductor-related stocks led declines in Japan's Nikkei Stock Average on Friday. The benchmark index was down 1.6% in early afternoon trading. Chinese semiconductor stocks also fell after rallying earlier in the week. In Hong Kong, the Hang Seng index fell 1.1%, while the Shanghai Composite slid 0.7%.
--European blue-chip stock indexes largely fall at the open as tech stocks slide and banks weaken, even as most sectors open in the green. The German DAX falls 0.35%, dragged by a 5% slide for semiconductor maker Infineon Technologies. London's FTSE 100 is down 0.2% as mining stocks fall. The technology-heavy Dutch AEX slides 0.6% as semiconductor stocks slip, with ASML falling 3.2%. The CAC 40 trades flat in Paris as gains for luxury stocks counter a 3.25% slide for STMicroelectronics. Spain's IBEX 35 is 0.2% higher on a rally in consumer-facing stocks. Italy's FTSE MIB falls 0.15%.
--The dollar fell slightly. The DXY dollar index fell 0.6% to 99.352 though stays close to Wednesday's near two-month high of 99.552.
--U.S. Treasury yields were stable to marginally lower in Asian trade with market participants awaiting payrolls data later in the day. "A consensus 80,000 print with unemployment at 4.3% says slow glide, not stall," First Citizens Bank's Phil Neuhart said in a note. "With the FOMC two weeks out, nothing here suggests a near-term rate change will be pulled back onto the table," the head of market and economic research said. The 10-year Treasury yield was trading 0.4 basis point lower at 4.472%, while the 30-year Treasury yield was stable at 4.977%, according to Tradeweb.
--Bitcoin fell to a four-month low, ether hit a one-year low and Solana reached a two-and-a-half-year low toward the end of a bruising week for cryptocurrencies. Digital assets have come under pressure as uncertainty over the Iran war and outflows in crypto exchange-traded funds weighed. Bitcoin dropped as low as $61,117, Ether fell to as low as $1,627 and Solana hit a low of $63.840.
--Gold prices traded below $4,450 a troy ounce and are on track for a weekly loss New York gold futures were down 0.3% to $4,492.70 an ounce.
Write to Barcelona Editors at barcelonaeditors@dowjones.com
(END) Dow Jones Newswires
June 05, 2026 04:07 ET (08:07 GMT)
Copyright (c) 2026 Dow Jones & Company, Inc.
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