Asian shares wallow at one-month lows as bank worries weigh

Tech giants buoyed U.S. stock futures, despite fresh jitters surrounding the world's two biggest economies. Following higher-than-anticipated profits and $70 billion in stock buybacks announced by Microsoft and Alphabet, Nasdaq futures were up 1.4% and S&P 500 futures up 0.5%. However, the Wall Street Journal's Nick Timiraos warned the banking crisis wasn't over, leading to a sharp drop in U.S. markets overnight. Bond yields fell sharply and interest rate futures markets are pricing in a higher chance of Fed rate cuts later in the year.