U.S. stock futures took a sharp dive on Friday, driven by a massive sell-off in tech stocks as traders grappled with a widespread global cyber outage. The tech-heavy Nasdaq led the declines, with futures falling nearly 2%, while the S&P 500 and Dow Jones Industrial Average futures each dropped over 1%.
The sell-off was triggered by a sudden and extensive cyber attack that disrupted major online services across the globe. The outage affected a wide range of industries, causing chaos in financial markets and raising concerns about cybersecurity vulnerabilities.
Leading tech giants like Apple, Microsoft, and Alphabet saw significant pre-market losses, exacerbating fears of a prolonged downturn in the tech sector. The cyber attack has also led to disruptions in critical infrastructure and essential services, further complicating the market outlook.
Traders are now closely watching for updates on the cyber attack’s source and scope, as well as potential impacts on corporate earnings and economic growth. The heightened uncertainty has prompted a flight to safety, with investors flocking to bonds and gold, pushing yields lower and lifting the precious metal’s prices.
Market analysts warn that the ripple effects of this cyber incident could be felt for weeks, potentially altering the trajectory of the U.S. stock market and influencing monetary policy decisions. As the situation unfolds, the resilience of tech stocks and the broader market will be put to the test.
