US stock futures are pointing to a lower open on Wednesday, with the Dow futures down around 50 points. This follows a day of weakness in the market, with several prominent Chinese stocks listed in the US taking a beating in pre-market trading.
The pre-market decline in Chinese stocks is attributed to a reported shortfall in investor stimulus expectations from Chinese planning officials. Among the notable losers are UP Fintech Holding Limited (TIGR), Agora, Inc. (API), Futu Holdings Limited (FUTU), Noah Holdings Limited (NOAH), Lufax Holding Ltd (LU), and NetEase, Inc. (NTES). These companies saw their shares decline significantly in pre-market trading, following similar drops on Tuesday.
In addition to the broader market pressures, Delek Logistics Partners (DKL) is also facing a tough morning. The company priced its public offering of 3,846,153 common units at $39 per unit, but its shares dipped 10.2% to $40.11 in pre-market trading.
Investors will be keeping a close eye on these developments as the trading day progresses, watching for any signs of a rebound or further decline in these stocks.
