The US stock market futures kicked off the week on a weaker note, weighed by the technology sector.
The decline follows a robust performance the previous week that was driven by the remarks from the Federal Reserve that signaled a more dovish stance on monetary policy.
Despite current price corrections, the momentum in the US major indices could remain strong due to a high appetite for risk.
This week, attention turns to the February personal consumption expenditures (PCE) price index, the Fed’s preferred measure of inflation, set for release on Friday.
Intel and Advanced Micro Devices experienced declines following a report that China intends to restrict the use of US-manufactured chips in government computers.
The US chip industry could continue to see risks as the confrontation between the US and China exacerbates.
Additionally, several mega-cap companies, including Apple, Meta, and Google’s parent company Alphabet, are on the negative side as they came under investigation by the European Union under its new Digital Markets Act.
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