Tech stocks are taking a hit in pre-market trading
Apple is down by more than 1% and Facebook is now down by 4% in pre-market trading. It's going to be something to watch when the market opens later.
S&P 500 futures already took a hit earlier in the day, and the pain could translate to the cash equity market later when the opening bell rings.
While there are different reasons associated to the drop in Apple (due to iPhone demand forecast worries) and Facebook (data breach), it's all pointing to a similar trend - tech shares are being driven lower, and earlier news of Micro Focus isn't helping with that either. Twitter is also down 2.7% currently.
It was highlighted last week here that the next break in the S&P 500 is coming, and today could be that day.
Watch out for this, it's more than likely going to reverberate to other markets and affect risk sentiment as well.
