New Delhi, May 12 -- US stock futures are indicating a negative start to Tuesday's trade on May 12, as the ceasefire situation in the Middle East appears increasingly fragile, keeping crude oil prices elevated. At the same time, the record-breaking rally in chip stocks cooled.

Nasdaq 100 futures fell 0.8% after a strong rally in chipmakers had pushed the index to back-to-back record highs. S&P 500 futures slipped 0.4%, while Dow Jones Industrial Average futures declined 0.03%.

US equities are coming off a strong run. The S&P 500 and Nasdaq had just posted their sixth consecutive weekly gain, with both indices ending Friday at fresh record highs as better-than-expected corporate earnings signalled that the US economy was continuing to ho...