Nasdaq-100 futures and S&P 500 futures fell as big tech shares declined.

Big technology companies declined, pulling the S&P 500 and Nasdaq-100 futures lower, primarily due to concerns over capital expenditure spending from Meta and Microsoft, leading to market rotation into banks and health care. Following remarks from Jerome Powell, the probability for a December rate cut, as tracked by the CME FedWatch Tool, decreased from 90% to 75%. Equity option open interest has topped $6.1$ million contracts, with call volume rising and exceeding put volume in options expiring 30 to 90 days out for both E-mini S&P 500 and E-mini Nasdaq-100 futures. Trading activity showed almost 30,000 expiring 6,850 puts. On the crypto side, Bitcoin futures and Ether futures followed the risk-off trend, with Bitcoin futures trading as low as $106,200 and Ether futures as low as $3,674, while over 250,000 Ether futures contracts traded at CME today.