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Layer-1 chips surge as Europe and US futures fade

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Thomas Look
May 21, 2026
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§1 — Lede

🟡 A sharply bifurcated tape on 21 May 2026: semiconductor architects printed strong daily gains while broad market futures and European indices retreated into the red.

§1.5 — Pre-market US (futures)

S&P (ES) -0.38% · Nasdaq (NQ) -0.57% · Dow (YM) -0.30% · Russell (RTY) -0.53% · as of 12:47 UTC

At 12:55 UTC, all four US futures pointed lower, with…

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