Wall Street followed global markets lower today as technology shares sank after a report said the U.S. plans tighter import controls on companies that share chip-making technology with China, according to the Associated Press. Futures for the S&P 500 sank 1% before the bell, while futures for the Dow Jones Industrial Average fell 0.3%, and the tech-heavy Nasdaq tumbled 1.5%.
Shares in Tokyo Electron plunged 7.5%. Precision tools maker Disco Corp. sank 4.5%, and Lasertec, which makes equipment for inspecting for defects in computer chips, dropped 5%.
Dutch chip equipment maker ASML Holding NV slid 7.7% in premarket, while Nvidia fell 3.7%.
Outside of the tech sector, Spirit Airlines lost more than 5% after the discount carrier cut its second-quarter revenue guidance, and trucking company JB Hunt Transport Services lost 2.9% after it missed Wall Street’s revenue and profit targets as sales fell nearly 7% compared to the year-ago period.
In other dealings, U.S. benchmark crude oil added 72 cents to $81.46 per barrel in electronic trading on the New York Mercantile Exchange. Brent crude, the international standard, picked up 50 cents to $84.23 per barrel.
The U.S. dollar fell to 156.51 Japanese yen from 158.34 yen on Wednesday.
