Stock futures fell on Friday after Wall Street witnessed its worst day in more than a month. Futures tied to the Dow Jones Industrial Average lost 291 points, or 0.6%. S&P 500 futures shed 1%, while Nasdaq 100 futures dropped 1.5%. Key technology stocks continued to face pressure Friday. Nvidia and Advanced Micro Devices each fell around 3% in the premarket, extending their losses from the previous session. Palantir Technologies declined almost 5%, and Tesla also slipped around 4%. Both are tracking for significant losses this week, with Palantir and Tesla having fallen more than 3% and more than 6%, respectively, in the weekly period so far. The Technology Select Sector SPDR Fund (XLK) was down more than 1% Friday and similarly poised to finish in the red on the week. Bitcoin saw meaningful losses Friday as well, pulling back more than 2%. The move further signals the risk-off mood on Wall Street, especially by tech investors. Major U.S. indexes on Thursday posted their worst one-day performance since Oct. 10. The Dow Jones Industrial Average lost about 800 points, taking back gains seen in Wednesday’s session when it crossed the 48,000 level. The Nasdaq Composite dropped more than 2%, as technology giants came away battered. Those losses have now put the tech-heavy Nasdaq on pace to snap its seven-week win streak with a week-to-date fall of 0.6%. The S&P 500 is up about 0.1% on the week, and the 30-stock Dow is higher by 1%. Concerns about the artificial intelligence trade have emerged more seriously this week, with the recent wipeout in once-hot cloud stock Oracle further spooking investors about elevated tech valuations, a massive surge in debt financing and soaring AI capex plans. To be sure, Oracle’s growth is uniquely more reliant on its cloud deal with OpenAI and the company has far less cash compared to hyperscalers. “We saw what happened in 2021. Those stocks got destroyed, everything was okay for a while, and then it turned out that the rest of the market had more of a reset to do as well,” Yung-Yu Ma, PNC Asset Management chief investment strategist, said Thursday. “I do think a lot of the market is underpinned by the AI trade,” he said. “I still think this pullback is a healthy pullback here. And you have this push and pull in the market, you have this reset of investor sentiment but you also have a lot of broken failed breakouts and broken charts. And that does take a while to rebuild.” Mounting unease about the Federal Reserve’s upcoming interest rate decision also added pressure to the market on Thursday. Traders are now pricing in a nearly 52% chance that the central bank will cut its benchmark overnight borrowing rate by a quarter percentage point during their December meeting, which is lower than the 62.9% likelihood that markets priced in a day ago and 95.5% chance a month ago, per the CME FedWatch Tool. The U.S. government shutdown, which was the longest in history, ended Wednesday evening after stretching on for more than six weeks. That development had been expected to end a period of time where investors were operating without important economic data. Instead, it has raised new questions. White House press secretary Karoline Leavitt suggested that some economic data that was due out during the impasse might never be released. Now, some investors think it might make the Fed less inclined to cut rates. U.S. Treasury yields fell on Friday as investors moved into risk-off assets following Thursday’s rout on Wall Street. The 10-year Treasury yield was down more than 3 basis points at 4.077%, as was the 2-year note yield at 3.556%. The 30-year bond yield was lower by 2 basis points at 4.682%. Asia-Pacific markets slid Friday, tracking losses on Wall Street, as technology stocks continued to come under pressure and Fed rate-cut doubts swirled. Japan’s benchmark Nikkei 225 index lost 1.77% to close at 50,376.53, while the Topix slid 0.65% to end the trading day at 3,359.81. South Korea’s Kospi fell 3.81% to 4,011.57, and the small-cap Kosdaq was 2.23% lower at 897.9. Australia’s S&P/ASX 200 lost 1.36% to 8,634.5. Hong Kong’s Hang Seng Index lost 1.79%, while mainland’s CSI 300 dipped 1.57% to 4,628.14 after government data Friday showed China’s slowdown worsened in October, dragged by soft consumer demand and a deepening property downturn. Oil prices climbed around 2% on Friday, boosted by supply fears after the Black Sea port of Novorossiysk halted oil exports following a Ukrainian drone attack that hit an oil depot in the major Russian energy hub. Brent crude futures were up $1.50, or 2.4%, at $64.51 a barrel, while U.S. West Texas Intermediate crude advanced $1.57, or 2.7%, to $60.26 a barrel. Gold prices reversed earlier gains on Friday as hawkish comments from U.S. Federal Reserve officials clouded prospects for a December rate cut, although they remained set for a weekly gain supported by wider economic uncertainty. Spot gold last fell 1.38% to $4,113.49 per ounce, after hitting $4,211.06 earlier in the session. Bullion is up 3.7% so far this week. U.S. gold futures for December delivery fell 1.8% to $4,119 per ounce.