U.S. stock futures fell on Friday, bogged down by losses in technology stocks and a rise in U.S. Treasury yields, after a summit between President Donald Trump and Chinese President Xi Jinping ended and left traders worried about no major policy breakthroughs. S&P 500 futures shed 1.2%, while Nasdaq-100 futures lost 1.6%. Dow Jones Industrial Average futures were down 440 points, or 0.9%. Investors took profits in tech after the group saw sharp gains recently. Notably, Nasdaq-100 futures were bogged down by a 4% loss in Intel and a 3% decline in Advanced Micro Devices and Micron Technology. Nvidia dropped 2%, while Cerebras Systems—which surged 68% Thursday after it began trading on the Nasdaq—shed 3%. “The group has witnessed an extremely unsustainable move in recent weeks and remains vulnerable to profit-taking regardless of the headlines,” wrote Adam Crisafulli of Vital Knowledge. Microsoft was an exception, however. The stock was 0.6% higher after Bill Ackman said in a post on X Friday that Pershing Square has built a position in the name. Investors were also disappointed following the conclusion of the summit between Trump and Xi, as no major deals have been announced. The two agreed that the Strait of Hormuz must remain open, according to a U.S. readout that was shared by a White House official. But “the few headlines that did come out of the summit (like the Boeing orders) were underwhelming,” Crisafulli wrote. Boeing shares extended their losses Friday following a nearly 5% drop in the previous session as investors were let down by Trump saying that China has agreed to buy 200 Boeing jets—just 50 more than the company had previously anticipated. Thursday marked a winning session for the indexes. The Dow reclaimed the 50,000 level, and the S&P 500 closed above 7,500 for the first time. Stocks have been on a record-breaking tear on a renewed fervor around artificial intelligence. However, a peek under the hood is showing that the overall market is lagging the largest tech companies, a divergence that is increasingly worrying some investors, as it suggests a fragile rally. ” That broadening trade has really fizzled out,” Keith Lerner, investment chief at Truist Advisory Services, told CNBC’s “Closing Bell: Overtime” on Thursday. “We are seeing some of that, kind of, more subdued action in the economy reflected in areas of the market. But … it’s top heavy with tech, and that’s why the broad-based indices are doing fine. Stocks are headed for a winning week, with the S&P 500 and Nasdaq Composite each headed for their seventh straight week of gains. The Dow is on pace for a sixth winning week in seven. U.S. Treasuries spiked on Friday morning following a week of messy inflation data and as traders looked to price interest rate policy under new Federal Reserve Chair Kevin Warsh. The yield on the 30-year bond jumped 8.6 basis points to yield just under 5.1%, the highest since May 22, 2025, and nearing the highest since October 2023. The yield on the 10-year Treasury note — the main benchmark for U.S. borrowing — surged 7 basis points to 4.55%. Meanwhile, the 2-year Treasury note yield, which tends to react in line with short-term Fed rate decisions, was more than 6 basis points higher at 4.06%. South Korea’s benchmark Kospi index gave up gains to fall more than 6% Friday, retreating from a fresh record high, weighed down by heavyweight tech stocks amid a broader decline in Asia-Pacific markets. The Kospi index closed at 7,493.18, having breached 8,000 earlier in the session. The small-cap Kosdaq fell more than 5% to end at 1,129.82. Other Asian markets also fell as investors tracked the second day of high-stakes talks between U.S. President Donald Trump and Chinese President Xi Jinping. Trump on Friday left Beijing after the 2-day summit, also attended by a delegation of American business leaders, including Tesla CEO Elon Musk and Nvidia chief Jensen Huang. Japan’s Nikkei 225 declined 2% to 61,409.29, and the Topix lost 0.39% to 3,863.97. In Australia, the S&P/ASX 200 slid 0.11% to 8,630.8. Hong Kong’s Hang Seng index was down 1.6% as of its final hour of trading, while mainland China’s CSI 300 fell 1.12% to 4,859.59. Oil prices rose Friday as President Donald Trump is likely to turn his attention back to the stalemated conflict with Iran after leaving a summit in China with President Xi Jinping. International benchmark Brent crude futures for July gained 2.4% at $108.22 a barrel by 7:47 a.m. ET. U.S. West Texas Intermediate futures for June advanced 2.79% at $103.39 per barrel. Gold dropped 2% on Friday as surging Treasury yields and a stronger U.S. dollar ​dulled its appeal, with higher ​oil prices and persistent ​tensions in the Middle East reinforcing expectations of higher interest rates. Spot gold was down 2.2% at $4,546.45 per ounce by 1000 GMT, its lowest since May 5. Bullion ⁠is ‌on track for a weekly loss, down 3.6% so ⁠far. U.S. gold futures for June delivery lost 2.9% to $4,550.80. Benchmark 10-year U.S. Treasury yields rose to a near one-year high, increasing the opportunity cost of holding non-yielding gold. The dollar also firmed, making greenback-priced ‌bullion more expensive for overseas buyers.