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(Reuters) – Futures tracking the tech-heavy Nasdaq index pointed to a more than 1% loss at opening on Tuesday as investors sold off high-flying tech stocks on valuation concerns ahead of Federal Reserve Chairman Jerome Powell’s testimony in Congress.

© Reuters/MIKE SEGAR New York Stock Exchange (NYSE) building after the start of Thursday’s trading session in New York

At 07:01 a.m. EST, Nasdaq 100 E-minis were down 189.75 points, or 1.43%, versus a 3 point, or 0.01% gain for Dow E-minis and 16 point, or 0.41% fall for S&P 500 E-minis.

(Reporting by Sruthi Shankar in Bengaluru; editing by Patrick Graham)

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