Nasdaq futures dropped approximately 2% in early trading on Tuesday, extending a sharp downturn in technology shares that began in the previous session.
The decline was driven by a broad-based selloff across the sector, with SpaceX shares continuing to slide and anchoring the index's losses.
The weakness in US tech giants has triggered a ripple effect across global equity markets.
Asian indices tracked the losses from Wall Street, while European futures signaled further weakness ahead of the open.
The broad-based sell-off reflects growing risk aversion among investors as the tech-heavy Nasdaq faces sustained selling pressure.
The continued slide in SpaceX, a key component of the tech rally, has exacerbated the downturn.