US stock futures pointed to a lower open on Monday, with all three major index futures trading in negative territory. As of 5:06 p.m. local time, Dow Jones futures were down 0.63%, S&P 500 futures had fallen 0.71%, and Nasdaq futures led the decline, dropping 1.11%.

Semiconductor stocks were under significant pressure in pre-market trading. By 5:07 p.m., ARM Holdings shares were down more than 4%. Micron Technology, Marvell Technology, SanDisk, Advanced Micro Devices, and Qualcomm all saw declines exceeding 3%.

In the Hong Kong market, the Hang Seng Index closed 0.64% lower, while the Hang Seng TECH Index dropped 0.94%. Sectors including electrical equipment, semiconductors, non-ferrous metals, coal, and oil & petrochemicals were among the worst performers. In contrast, pharmaceuticals & biotechnology, food & beverage, home appliances, and steel sectors posted gains.

The semiconductor segment in Hong Kong experienced a sharp sell-off. Advanced Semiconductor Materials (SIC) plunged over 17%, Innovation Technology fell more than 13%, GigaDevice was down 7%, Megain Holding dropped 6%, and Semiconductor Manufacturing International Corporation declined over 3%.

Among technology and internet stocks, NetEase and Kuaishou-W rose more than 3%. Tencent, Meituan, and Bilibili gained over 2%. On the downside, Lenovo Group tumbled more than 9%, Zhipu AI and NIO Inc. dropped over 7%, while shares of SenseTime, Alibaba, and JD.com also moved lower.