US stock futures fall Friday; S&P 500 down 0.53%, Dow 0.84%

The divergence between small caps and large-cap tech hints at rotation rather than broad risk-off, but the muted Nasdaq drop suggests tech remains resilient. For crypto and RWA markets, equity sentiment often sets the tone for risk appetite, so the question is whether this futures dip translates into sustained pressure or fades by the open. Watch whether the Russell 2000's strength persists, as that could signal a shift toward cyclicals and away from the megacap names that have correlated with digital assets.