What economic data is expected today?

Key data includes flash PMI figures, ADP employment, and Treasury auctions.

How did inflation data affect markets?

Strong inflation data reinforced expectations that the Fed may keep rates high, pressuring tech stocks.

Which stocks were affected by the selloff?

Megacap tech stocks like Microsoft, Amazon, and Alphabet were particularly affected.

Nasdaq, S&P 500 Futures Dip After Megacap Tech Selloff

Nasdaq and S&P 500 futures declined in pre-market trading Tuesday, following a sharp selloff in megacap technology stocks on Monday. Investors are awaiting flash PMI data, ADP employment figures, and Treasury auctions for clues on the economic outlook and Fed policy.

June 23, 2026

2 min read

Source: Stocktwits

Futures for the Nasdaq and S&P 500 edged lower in pre-market trading on Tuesday, extending losses from a sharp selloff in megacap technology stocks the previous session. The decline comes as investors brace for a series of key economic data releases.

Details

Tuesday's catalysts include flash Purchasing Managers' Index (PMI) data for June, the Richmond Fed manufacturing index, weekly ADP employment figures, and auctions of Treasury bills and 2-year notes. Additionally, May money supply data is due.

Context

The Monday selloff was triggered by strong economic data that reinforced expectations that the Federal Reserve may keep interest rates higher for longer. Megacap tech stocks, including Microsoft (MSFT), Amazon (AMZN), and Alphabet (GOOGL), were among the hardest hit.

What It Means for Investors

Investors are closely watching the PMI and employment data for signs of economic strength or weakness. Any surprises could fuel further volatility. Tech stocks are likely to remain under pressure until the interest rate outlook becomes clearer.

Frequently Asked Questions

Nasdaq futures fell due to a sharp selloff in megacap tech stocks on Monday, amid concerns over persistent inflation and higher interest rates.

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This article was rewritten in Wrqti's editorial style based on information from the original source above. Content is informational only — not investment advice.