WS #10488

The dominant signal in this window is a sharp pre-market selloff in US equity futures, with S&P 500 futures down 0.5% and Nasdaq futures off 1.0%, driven by a broad tech pullback. European futures are also lower (Eurostoxx 50 -0.7%, DAX -0.7%, FTSE -0.8%). This extends the prior window's theme of cooling AI/tech momentum, now confirmed by futures data. Separately, the Tata Electronics cyberattack leak of Apple and Tesla documents (200,000 files on dark web) adds supply chain risk for AAPL and TSLA. The US-Iran talks continue with the Trump administration allowing oil sales, a potential counter-signal to prior oil supply fears. Alan Greenspan's death at 100 is notable but non-market-moving. The CR New Energy record IPO in Shenzhen shows strong retail demand, signaling continued Chinese equity market appetite. Overall, the narrative is ESCALATING for the tech selloff, with futures confirming the pullback.