Tech Sell-Off Rekindles, Setting Wall Street up For Lower Open

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US stock futures were set to open lower on Wednesday as another feeding frenzy in the technology sector permeated other sectors of global financial markets. Exacerbated by year-end profit-taking and fears that a government shutdown could result from political bickering, the risk off trade has driven Dow futures 50 points lower, while the Nasdaq again takes the brunt of today's selling pressure, trading 1.60% lower in premarket trade.

On the economic calendar is November private payroll data from Automated Data Processing, forecasted to show the private sector created 186,000 new jobs.

At 8:30 am ET, Q3 non-farm productivity is expected to be revised to 3.2% from 3.0%, while unit labor costs should be revised down to +0.3% from +0.5%.

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