U.S. Stock Futures Decline as Tech and Chipmaker Selloff Spreads from Asian Markets

The U.S. Futures slump follows a massive selloff in South Korea earlier on Tuesday as the country's benchmark KOSPI Index dropped more than 8%—triggering a circuit breaker—led by a 12% rout in the stock prices of memory chipmakers SK Hynix and Samsung.

In early trading on Tuesday, the tech-heavy NASDAQ Futures fell to 29,874.50 points, down more than 2.5% from Monday's close.

The benchmark S&P 500 Futures dropped 1.2% to 7,448.25 points, while Dow Futures fell 0.37% to 51,926 points.