Tech rout and Iran tensions weigh on US futures ahead of CPI data
U.S. stock futures fell in premarket trading as investors await the May CPI data, with tech shares sinking on AI-exuberance worries and rising Iran-Israel tensions; Dow futures tumbled about 411 points (-0.8%), S&P 500 futures roughly -1.0%, and Nasdaq-100 futures around -1.5% as semiconductor names leading declines. Oracle earnings after the bell could test AI enthusiasm. Economists expect CPI to show 4.2% year over year and 0.5% month over month, with core CPI at 2.9% (YoY) and 0.3% (MoM). Brent crude also rose on ongoing Middle East tensions.