Wall Street stocks plummeted on Friday after the strong non-farm payroll data and wages report, which heightened fears on inflation and interest rates.
Big bank Wells Fargo (NYSE:WFC) closed down 1.18% on Friday and is likely to start lower today after the US's third largest lender was hit by the Federal Reserve.
The Central bank put a company-wide ban on the group growing past the US$1.95trn in assets it held at the end of last year. This punishment will be lifted when Wells has shown it has improved its governance and controls. In pre-market deals, Wells shares are down 9.46% to US$58.01.
Elsewhere, chip maker Qualcomm (NASDAQ:QCOM) closed 1.09% lower at US$66.07 on Friday after it was reported that Broadcom Ltd (NASDAQ:AVGO) plans to announce an improved US$120bn offer for the firm.
In pre-market, Qualcomm shares are up 4.43% to US$69.
Elsewhere, USA Truck Inc (NASDAQ:USAK) saw shares accelerate over 24% to US$24.99 on Friday after the group posted upbeat fourth quarter results.
Its net income of US$14.8mln marked its second-straight profitable quarter.
Tech group Booz Allen Hamilton Holding Corporation (NYSE:BAH) is expected by analysts to unveil quarterly earnings of US$0.43 per share on revenues of US$1.52bn before the opening bell.
Booz Allen shares slipped more than 2% on Friday to close at US$38.66 each.