US Stock Futures Fall Friday: Nasdaq 100 Down 1.60%, S&P 500 Down 0.68%

The gap between Nasdaq 100 and Dow futures points to a tech-led drawdown rather than a uniform risk-off move, with the small-cap Russell 2000 also softer but far less than the growth index. That dispersion matters because it suggests the pressure is concentrated in the rate-sensitive, high-multiple segment rather than broad economic pessimism. Whether this stays a tech-specific rotation or widens into the broader market is the open question worth tracking.