Futures for the Dow Jones Industrials lost 39 points, or 0.1%, to 34,440.
Futures for the S&P 500 sank 19.25 points, or 0.4%, to 4,452.25.
Futures for the NASDAQ plunged 118.5 points, or 0.8%, to 15,281.
Apple shares lost nearly 3% before the bell on a Bloomberg News report that China’s looking to broaden a ban on the use of iPhones in state-owned companies and agencies.
Traders also pored through the latest corporate earnings, with C3.ai dropping more than 9% after reporting lower-than-expected gross margin in the recent quarter. GameStop added more than 3%, while ChargePoint Holdings fell about 11% after missing revenue estimates.
Major U.S. stock benchmarks are coming off a losing session as higher Treasury yields pressured tech stocks and heightened investor worry that the Federal Reserve will use recent stronger-than-expected economic data to justify additional hikes.
While 93% of interest rate traders foresee no change at September’s Federal Open Market Committee meeting, expectations of an additional interest rate hike at the November meeting rose above 40%.
In Japan, the Nikkei 225 index settled 0.8% Thursday, while in Hong Kong, the Hang Seng dipped 1.3%.
Oil prices dropped 59 cents to $86.95 U.S. a barrel.
Gold prices hiked $2.90 to $1,947.10 U.S. an ounce.