US equity futures point to a solid decline
Nike shares down 5%
Supply chain issues forced Nike to lower its sales forecast for this year, causing a 5% decline in shares.
The market is increasingly worried about falling sales due to supply chain issues and that may be a big part of the 25-point decline in S&P 500 futures ahead of the open.
Of course, that comes after a two-day 100 point rally on Wed/Thurs so it's not exactly a trend change.
Here's an interesting note showing the jump in the volume in the IWM ETF, which tracks the Russell 2000. It looks like fresh bets on reopening and reflation are taking place.