Stock futures indicated a significantly lower opening on Friday as shares of chipmakers experienced continued selling pressure. Meanwhile, oil prices experienced an uptick following the U.S. strike on Iranian infrastructure. Futures for the Nasdaq 100, S&P 500, and Dow Jones Industrial Average indicated declines of 1.7%, 0.9%, and 0.6%, respectively. Yesterday, the tech-focused Nasdaq Composite, benchmark S&P 500, and blue-chip Dow concluded the trading session lower, interrupting a two-day winning streak, as shares of chipmakers declined in response to renewed apprehensions regarding AI expenditure. The Nasdaq, S&P 500, and Dow concluded Friday with declines of 1.5%, 0.5%, and 0.2% for the week, respectively.

Chip stocks experienced a decline on Thursday following the announcement from Taiwan Semiconductor Manufacturing Co., the leading contract chipmaker globally, regarding an increase in its full-year capital expenditure forecast. U.S.-listed shares of TSMC indicated a further decline of 3.5% in premarket trading, following a drop of more than 2% the previous day. The iShares Semiconductor ETF experienced a decline of 4.5% on Thursday and was down 3.5% prior to the market opening, influenced negatively by companies such as Advanced Micro Devices, Micron Technology, Broadcom, Intel, Applied Materials, and Marvell Technology. Also dropping Friday was the Roundhill Memory ETF, which pulled back 4% after a 9% retreat yesterday. Components Sandisk and Seagate Technology Holdings were down about 4% each before the bell after posting double-digit declines. U.S.-listed shares of South Korean firm SK Hynix experienced a decline of 2% following a significant drop of 14% on Thursday.

Elsewhere, Netflix shares sank 9% in premarket trading after the streaming giant indicated that it anticipates a slowdown in profit and revenue growth for the third quarter. Shares of Elon Musk-led SpaceX closed below their IPO price for the first time yesterday and subsequently declined by an additional 3.5%. All of the Magnificent Seven mega-cap tech stocks indicated a downward trend following the performance of five that concluded in the negative yesterday. Alphabet shares slipped 1.5% after leading declines at about 4.5% Thursday following a report that its Google unit “is months behind schedule” delivering its flagship AI model, Gemini 3.5 Pro. Oil prices experienced an uptick following a statement from U.S. Central Command, or CENTCOM, which reported overnight on X that forces “hit dozens of Iranian military targets,” and noted that “more than 50,000 U.S. service members are operating across the Middle East and remain vigilant, lethal, and ready.”

West Texas Intermediate futures, the U.S. benchmark, increased by 2.4% to $80.80 a barrel, whereas Brent crude futures, the global benchmark, saw a rise of 2% to $85.90 a barrel. The 10-year Treasury yield, a critical determinant of interest rates across various consumer loans such as mortgages, stood at approximately 4.53%, reflecting a decrease of three basis points from Thursday’s close. Bitcoin was trading around 63,000, down from overnight highs around 64,200. The U.S. dollar index, which monitors the value of the greenback relative to a selection of foreign currencies, remained relatively stable at 100.78. Gold futures increased by 0.2%, reaching approximately $4,000 per ounce.