European Shares Seen Broadly Lower At Open

(RTTNews) - European stocks are seen opening broadly lower on Friday as a global tech rout deepened. Commodity-heavy FTSE 100 may rise at open as oil prices rose on reports surrounding possible U.S. action on Iran.

U.S. stock futures ticked lower, with Nasdaq 100 futures falling nearly 2 percent on worries over the slowing artificial intelligence trade.

Amazon's quarterly results missed analyst expectations on profit and total revenue, and chip maker Intel warned it would burn cash this year due to the faltering PC market, fueling worries about the returns on investments in AI infrastructure.

Asian markets were mixed as tech stocks extended losses on concerns over the sustainability of the AI and technology trade.

Adding to the risk-off tone, Binance, the world's largest crypto exchange, has frozen digital assets worth around $3bn (£2.24bn) as it investigates a "potential security issue."

A tech sell-off revived demand for Treasuries and weighed on the U.S. dollar index.

Asian government bond yields were lower, tracking drops in U.S. Treasury yields overnight.

The yen extended gains against the dollar after the Bank of Japan kept interest rates unchanged as expected but revised up its inflation forecast and indicated it remains prepared to tighten policy further if inflation risks intensify.

Gold was subdued below $4,000 an ounce after dropping more than 1 percent in the previous session.

Brent crude futures rose about 1 percent toward $112 a barrel on signs the U.S. may resume military strikes against Iran.

According to reports by the Wall Stret Journal and Axios, a senior commander had briefed President Donald Trump on potential military options for a possible resumption of major combat operations on Thursday.

U.S. stocks ended lower overnight as Alphabet's revenue miss as well as negative free cash flow revived concerns about artificial trade.

A raft of mixed economic data also clouded the outlook for inflation and interest rates. Third-quarter GDP growth came in at an annualized 3.4 percent, surpassing analyst expectations and marking the fastest pace in a year.

Consumer spending rose in September as inflation stayed high at 3.6 percent on a year-on-year basis, marking the fastest pace since May.

The core PCE price index, the Fed's preferred inflation gauge, climbed 3.1 percent, matching expectations after holding at 3.0 percent for three consecutive months.

Initial jobless claims stayed near a 57-year low last week, signaling labor market resilience.

The tech-heavy Nasdaq Composite tumbled 1.4 percent as semiconductor stocks snapped their four-day winning streak. The S&P 500 and the Dow both slipped around 0.3 percent.

European stocks closed at a seven-week high on Thursday after the Federal Reserve and the European Central Bank kept interest rates unchanged despite oil-driven inflation risks.

The pan-European STOXX 600 gained 0.8 percent. The German DAX surged 1.3 percent, France's CAC 40 climbed 1.1 percent and the U.K.'s FTSE 100 rose 0.3 percent.