CORRECTION (2026-07-12): An earlier version of this article included dek, key-point and body claims that SpaceX led/anchored the index losses. That material has been removed and adjacent wording lightly adjusted for readability; the substance of the article is otherwise unchanged. Corrected on 2026-07-12.
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.
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.