The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was down 1.9% and the actively traded Invesco QQQ Trust (QQQ) was 2.9% lower in Friday's premarket activity, ahead of the employment situation report.

US stock futures were also lower, with S&P 500 Index futures down 3.2%, Dow Jones Industrial Average futures 3.2% lower, and Nasdaq futures falling 3.5% before the start of regular trading.

The March employment situation report is scheduled to release at 8:30 am ET.

Federal Reserve Chair Jerome Powell is slated to speak at 11:25 am ET, followed by Fed Governor Michael Barr at 12 pm ET, and Governor Christopher Waller at 12:45 pm ET.

The weekly Baker Hughes domestic oil-and-gas rig count will be released at 1 pm ET.

In premarket activity, bitcoin was up by 0.6% and the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 0.9% higher.

Power Play:

Consumer

The Consumer Staples Select Sector SPDR Fund (XLP) was down 0.2%, while the Vanguard Consumer Staples Fund (VDC)retreated 0.1%. The iShares US Consumer Staples ETF (IYK) was flat, and the Consumer Discretionary Select Sector SPDR Fund (XLY) lost 3.3%. The VanEck Retail ETF (RTH) was inactive, while the SPDR S&P Retail ETF (XRT) fell 4.6%.

Niu Technologies (NIU) shares were down more than 17% pre-bell, continuing from the more than 7% fall at Thursday's close. The company said Friday its Q1 sales volume grew 57% year over year to 203,313 units.

Winners and Losers:

Industrial

Industrial Select Sector SPDR Fund (XLI) retreated 2.9% while the Vanguard Industrials Index Fund (VIS) was down 3.2% and the iShares US Industrials ETF (IYJ) fell 2.3%.

LanzaTech (LNZA) stock was down more than 11% before the opening bell, continuing losses from the previous day's 18.2% fall. The company said it received a non-binding offer from Carbon Direct Capital Management to acquire the company for $0.02 per share.

Financial

Financial Select Sector SPDR Fund (XLF) declined by 4.9%. Direxion Daily Financial Bull 3X Shares (FAS) fell nearly 14%, while its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 14% higher.

KKR (KKR) shares were down more than 5% pre-bell Friday after closing more than 15% lower. KKR partner AV Air Finance is set to sign a $200 million aircraft finance deal with Vietnamese carrier VietJet in a meeting next week to be attended by officials of Boeing (BA), Reuters reported, citing an internal schedule.

Energy

The iShares US Energy ETF (IYE) was down 2.3%, while the Energy Select Sector SPDR Fund (XLE) fell by 4.7%.

Matador Resources (MTDR) stock was down more than 7% before Friday's opening bell after it closed 14% lower on Thursday. The company said Friday it sold its remaining Eagle Ford shale assets in South Texas for proceeds of more than $30 million.

Technology

Technology Select Sector SPDR Fund (XLK) retreated 4.8%, and the iShares US Technology ETF (IYW) was 4.3% lower, while the iShares Expanded Tech Sector ETF (IGM) was down 3.8%. Among semiconductor ETFs, SPDR S&P Semiconductor ETF (XSD) fell 6.6%, while the iShares Semiconductor ETF (SOXX) dropped 5.3%.

Analog Devices (ADI) shares were down nearly 4% in recent Friday premarket activity, continuing from a 9.4% fall at the prior close. Wells Fargo cut its price target for the company to $200 from $240.

Health Care

The Health Care Select Sector SPDR Fund (XLV) fell nearly 1%. The Vanguard Health Care Index Fund (VHT) was down 1.4% while the iShares US Healthcare ETF (IYH) retreated 1.2%. The iShares Biotechnology ETF (IBB) declined 2.3%.

Astrazeneca's (AZN) stock was down more than 3% premarket after closing the previous day with a 2.4% rise. The company said Imfinzi, in combination with chemotherapy, has been approved in the European Union for the treatment of adults with operable non-small cell lung cancer.

Commodities

Front-month US West Texas Intermediate crude oil was down 7.9% at $61.66 per barrel on the New York Mercantile Exchange. Natural gas retreated 2.4% to $4.04 per 1 million British Thermal Units. United States Oil Fund (USO) lost 7.6%, while the United States Natural Gas Fund (UNG) was 1.6% lower.

Gold futures for June gained 0.6% to reach $3,138.80 an ounce on the Comex, while silver futures fell 2.3% to $31.25 an ounce. SPDR Gold Shares (GLD) was down nearly 0.1%, and the iShares Silver Trust (SLV) was 2% lower.