US Stocks Plummet as Nasdaq Futures Sink 2.7% Amid Global Market Slump
The US stock market is experiencing a collective slump in pre-market trading on June 23. Dow futures fell 0.48%, S&P 500 futures dropped 1.32%, and Nasdaq 100 futures plummeted 2.70%. The downturn started in Asia-Pacific markets, with the Nikkei 225 closing down 3.55% at 69,788 points.
Kioxia and SoftBank both fell over 15% and 10% respectively, while Samsung Electronics and SK Hynix dropped over 12%. International oil prices took a hit due to U.S.-Iran negotiations breakthroughs, with WTI crude oil futures falling 2% to $73.19/barrel.
Spot gold in London once fell over 2% to $4,094/ounce and spot silver plummeted 4.8% to $61.9/ounce. Bitcoin broke below $63,000, dropping over 3%, while Ethereum dropped nearly 6% to around $1,660.
Memory chip stocks were the worst-hit area in pre-market trading, with SanDisk falling over 7.5%, Micron Technology and Western Digital plummeting over 6%. SpaceX bucked this trend after initially falling below its IPO debut price of $150, rising 0.74% to $155.74.