Futures tracking the Nasdaq 100 index NQcv1 fell 2% on Tuesday, on the first full trading day after a report said SoftBank made significant option purchases during a Wall Street rally since a coronavirus-driven crash in March.
SoftBank spent roughly $10 billion buying shares and sources told NYK Daily it has spent more buying derivatives in U.S. stocks. The Financial Times first reported on these derivative purchases on Friday.
Wall Street’s tech-fueled rally halted last week, with the Nasdaq plunging 3.3% in its worst week since the height of the pandemic-linked sell-off in March. The benchmark S&P 500 .SPX ended 2.3% lower, snapping a five-week winning streak.
At 6:01 a.m. ET, Nasdaq 100 e-minis NQcv1 were down 271.75 points, or 2.35%, S&P 500 e-minis EScv1 were down 20.75 points, or 0.61% and Dow e-minis 1YMcv1 were up 10 points, or 0.04%.
Tesla Inc (TSLA.O) slumped 11% in premarket trading after the electric-car maker was excluded from a group of companies being added to the S&P 500.
