S&P 500 and Nasdaq futures climbed Monday, as chip stocks steadied after plunging to over two-week lows, though renewed strikes in the Middle East kept investors largely at bay.

Shares of Nvidia, ‌Broadcom and Micron Technology rose between 1.5% and 3.9% premarket, rebounding from a ​sharp selloff Friday that wiped out $1 trillion in market value for U.S.-listed chipmakers.

Overseas markets, however, continued to feel Friday's Wall Street pain. 

Asian shares skidded Monday after worries about Big Tech investments and rising odds for an interest rate hike gave U.S. stocks their worst day since October.

Japan’s benchmark Nikkei 225 dropped 4.5% to 63,604.15.

In other share trading, South Korea's Kospi slipped 8.2% to 7,493.34 as Samsung Electronics, the country's biggest company, dropped 9.7%. SK Hynix declined 7%.

Back in the U.S., expectations of tighter monetary policy and underwhelming results from Broadcom last ⁠week raised concerns that the sector was growing too fast too quickly, prompting ​traders to retreat after a strong run this year.

"We do not expect investors to lose ⁠confidence in the AI outlook," said Mark Haefele, chief investment officer at UBS Global Wealth Management.

"Although tech stocks have come under pressure in recent days amid concerns about whether expectations can be met, business fundamentals remain ‌strong."

U.S. stock futures were mixed early Monday, with technology shares leading gains ahead of the opening bell. As of 6:52 a.m. EST, Nasdaq-100 futures jumped 218.25 points, or 0.75%, while S&P 500 futures rose 0.39% and Russell 2000 futures gained 0.84%.

Dow futures, however, edged down 31 points, or 0.06%, suggesting a softer start for blue-chip stocks.

Much stronger-than-expected jobs data for May also contributed to ‌Friday's rout, as traders priced in interest rate increases this year. Interest rate futures pricing implies a 42% chance that the Federal Reserve will hike rates by ⁠25 basis points in December, per CME ‌Group's Fedwatch tool.

Wednesday's consumer prices ⁠report for May could offer investors fresh insights on how the rise in energy prices due to the Iran ⁠war ⁠is impacting inflation.

Crude prices rose more than 4% to more than $95 a barrel as renewed Israeli strikes on Iran and ‌fresh attacks on Lebanon soured hopes of an imminent end to the wider war.

Shares of U.S. airline operators including Southwest Airlines and Southwest Airlines fell 2.4% each as the spike in oil ‌prices raised ​concerns about higher fuel costs.

Marvell Technology ‌jumped 6.6% premarket as the chipmaker was set to join the benchmark S&P 500 before the start of trading on June 22.

Eli Lilly jumped 4.1% ​after the drugmaker's trial results showed its next-generation obesity drug retatrutide curbed sleep apnea severity in addition to boosting weight loss and helping knee pain.