07:26 AM EDT, 08/05/2024 (MT Newswires) -- Wall Street futures pointed sharply lower pre-bell Monday as traders digested large overnight losses on Asian markets and weakening tech stocks amid concerns global economic growth is flagging.

In the futures, the S&P 500 fell 3%, the Nasdaq was down 4.6% and the Dow Jones was off nearly 1.9%.

Asian exchanges traded sharply lower overnight, with Tokyo's Nikkei 225 dropping more than 12%. European bourses tracked solidly south midday on the continent, down more than 2% by broad indices.

Yields on benchmark US Treasuries declined firmly to under 3.75%, while Bitcoin tumbled by more than 10% in premarket activity.

Apple (AAPL) traded down 8.3% pre-bell following disclosures that Warren Buffett's Berkshire Hathaway (BRK.A, BRK.B) had lightened holdings of the tech company.

Tyson Foods (TSN), BioNTech (BNTX), and The Carlyle Group (CG) are among the companies reporting their earnings pre-bell.

Blue chips reporting later this week include Walt Disney (DIS), Caterpillar (CAT), Eli Lilly (LLY), CVS Health (CVS), Duke Energy (DUK), Shopify (SHOP), and Uber Technologies (UBER), among others.

On the economic calendar is the S&P Global July PMI composite final at 9:45 am ET, followed by the July ISM Services Index at 10 am.

San Francisco Federal Reserve President Mary Daly speaks at 5 pm.

In premarket activity, Bitcoin traded sharply lower at $51,206, West Texas Intermediate crude oil traded lower at $71.99, and 10-year US Treasuries offered 3.73%. Spot gold traded for $2,421 an ounce.