08:26 AM EDT, 04/03/2025 (MT Newswires) -- The broad market exchange-traded fund SPDR S&P 500 ETF Trust ( SPY ) was down 3.4% and the actively traded Invesco QQQ Trust (QQQ) was 3.8% lower in Thursday's premarket activity amid heightened concerns of a global trade war after US President Donald Trump announced new tariffs.

US stock futures were also lower, with S&P 500 Index futures down 3.3%, Dow Jones Industrial Average futures falling 2.8%, and Nasdaq futures 3.8% lower before the start of regular trading.

US layoff intentions rose to 275,240 in March, driven mainly by 216,915 job cuts in the government sector, marking the highest monthly total since May 2020, Challenger, Gray & Christmas reported Thursday.

The weekly jobless claims bulletin and the international trade in goods and services report for February will be released at 8:30 am ET.

The March purchasing managers' index composite final report from S&P Global (SPGI) is due at 9:45 am ET, followed by the Institute for Supply Management's services index for the same month at 10 am ET.

Federal Reserve Vice Chair Philip Jefferson is scheduled to speak at 12:30 pm ET, while Fed Governor Lisa Cook speaks at 2:30 pm ET.

In premarket activity, bitcoin was down by 4.4% and the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 4.4% lower.

Power Play:

Health Care

The Health Care Select Sector SPDR Fund ( XLV ) retreated 1.3%. The Vanguard Health Care Index Fund ( VHT ) was down 1.3% while the iShares US Healthcare ETF ( IYH ) was inactive. The iShares Biotechnology ETF (IBB) fell 2.3%.

RxSight ( RXST ) stock was down more than 23% premarket after the company reported lower-than-expected preliminary Q1 revenue and lowered its 2025 sales guidance range.

Winners and Losers:

Consumer

The Consumer Staples Select Sector SPDR Fund ( XLP ) was down 1.7%, while the Vanguard Consumer Staples Fund (VDC) fell 1.8%. The iShares US Consumer Staples ETF ( IYK ) retreated 1.1%, and the Consumer Discretionary Select Sector SPDR Fund ( XLY ) lost 4.4%. The VanEck Retail ETF ( RTH ) declined 5.9%, while the SPDR S&P Retail ETF ( XRT ) was 5.5% lower.

Lucid Group ( LCID ) shares were down more than 5% pre-bell after the company said Thursday it priced a private offering to eligible purchasers of $1 billion of 5% convertible senior notes due 2030.

Technology

Technology Select Sector SPDR Fund (XLK) retreated 4.5%, and the iShares US Technology ETF ( IYW ) was 4.5% lower, while the iShares Expanded Tech Sector ETF ( IGM ) was down 4.1%. Among semiconductor ETFs, SPDR S&P Semiconductor ETF ( XSD ) lost 5.5%, while the iShares Semiconductor ETF (SOXX) fell by 4.7%.

Datadog ( DDOG ) shares were down more than 4% in recent Thursday premarket activity. The company said late Wednesday it plans to open a new data center in Australia, the company's first in the country.

Industrial

Industrial Select Sector SPDR Fund ( XLI ) declined 3.8% while the Vanguard Industrials Index Fund ( VIS ) gained 1.3% and the iShares US Industrials ETF ( IYJ ) was inactive.

Lindsay (LNN) stock was up 3.4% before the opening bell after the company reported higher-than-expected fiscal Q2 earnings and revenue.

Energy

The iShares US Energy ETF ( IYE ) was down nearly 3%, while the Energy Select Sector SPDR Fund ( XLE ) was 4.1% lower.

BKV (BKV) stock was up 1.9% before Thursday's opening bell after the company said it appointed Dilanka Seimon to the newly created role of chief commercial officer.

Financial

Financial Select Sector SPDR Fund (XLF) fell 3.4%. Direxion Daily Financial Bull 3X Shares ( FAS ) dropped more than 10%, while its bearish counterpart Direxion Daily Financial Bear 3X Shares ( FAZ ) was 10% higher.

Mid Penn Bancorp ( MPB ) shares were up 1.6% pre-bell Thursday, continuing from the 1.7% gain at the prior close. The company and William Penn (WMPN) said late Wednesday that their respective shareholders have approved Mid Penn's proposed acquisition of William Penn.

Commodities

Front-month US West Texas Intermediate crude oil was down 5.9% at $67.51 per barrel on the New York Mercantile Exchange. Natural gas gained 1.6% to reach $4.12 per 1 million British Thermal Units. United States Oil Fund ( USO ) lost 5.9%, while the United States Natural Gas Fund ( UNG ) was up 2.4%.

Gold futures for June retreated 1.8% to $3,110.90 an ounce on the Comex, while silver futures fell 5.8% to $32.64 an ounce. SPDR Gold Shares ( GLD ) was down nearly 1%, and the iShares Silver Trust ( SLV ) was 4% lower.