The rally in U.S. stocks looked set to stumble as investors hammered shares of Facebook owner Meta Platforms premarket and awaited earnings from Amazon.com , Ford Motor and Snap.

Futures for the technology-focused Nasdaq-100 dropped 1.9% Thursday, signaling tech stocks will come under pressure. The tumble came as investors wiped 22% off the stock price of Meta, which painted a gloomy outlook in its earnings report, in premarket trading.