U.S. tech stocks took a hard hit last week (Nasdaq -4.5%), mainly because higher oil prices and inflation data fueled expectations of rate hikes. Futures rebounded on Monday, led by chip stocks. Chinese A-shares edged up today, with GDP data offering some support, but tech remains weak. Overall, high oil prices are still weighing on risk appetite. There’s some short-term dip-buying, but don’t rush to go all in.