Nasdaq-100 futures declined to an 11-week low as the technology sector faced significant selling pressure. The March contract fell for the fourth time in five sessions, impacted heavily by a broad semiconductor selloff following disappointing guidance from key industry players. Shares of companies including AMD, Micron, and Applied Materials traded lower, while software stocks continued to slide amid concerns regarding margin impacts from artificial intelligence tools. This rotation out of tech accelerated as the Nasdaq-100 spent a second session below its 50-day moving average. Additionally, slightly higher yields across the U.S. Treasury curve increased competition for growth stocks, as higher rates typically impact valuations and borrowing costs for the technology sector more significantly than defensive plays like consumer staples.