Techs were on track to lead U.S. equity markets lower again on Wednesday, as stock futures waded in the red. A string of headlines is keeping the spotlight on high-profile technology names, fueling concerns that regulators will step in and take action.

Investors will get an update on fourth-quarter U.S. gross domestic product and hear from a Federal Reserve official.

What are the main benchmarks doing?

Tech-focused Nasdaq-100 NQM8, +0.21% futures led the way lower with a slide of 65.25 points, or 1%, to 6,495.24. Dow Jones Industrial Average futures YMM8, +0.29% fell 82 points, or 0.3%, to 23,774, while S&P 500 futures ESM8, +0.28% dropped 11.2 points, or 0.4%, to 2,604.50.

On Tuesday, a tumble for technology stocks helped drag the overall market lower. The Nasdaq Composite Index COMP, -2.93% shed 211.74 points, or 2.9%, to reach 7,008.81, while the Dow Jones Industrial Average DJIA, -1.43% dropped 1.4% and the S&P 500 index SPX, -1.73% fell 1.7%.

Investors are facing hefty losses for March. The Dow is looking at a 4.7% decline, while the S&P 500 and Nasdaq are on course to fall by 3.7% and 3.6%, respectively.

Read: The Dow and S&P 500 have already doubled the number of 1% moves seen in all of 2017

What’s driving markets?

Regulatory concerns have started to pile up for big tech names. Tesla Inc. TSLA, -8.22% is facing an investigation of a fatal crash of one of the company’s electric cars in California last week, while Nvidia Corp. NVDA, -7.76% is halting tests of self-driving cars over the recent death of a pedestrian hit by an Uber Technologies Inc. car.

The NYSE FANG index, a gauge tracking 10 tech titans, fell 5.63% Tuesday, the most since 2014 when the index first started, according to multiple reports.

Tech stocks were the high-fliers of 2017, and the Nasdaq remains up 1.5% this year, against losses for both the Dow and S&P 500. However, the sector has been under pressure, most recently driven by sharp losses for Facebook over its user-data crisis.

Investors may be squaring their books as the end of the first quarter draws near, in a week shortened by the Good Friday holiday. Analysts have said that could be contributing to the recent volatility.

See: Which markets are closed on Good Friday?

Bond yields will likely stay in focus, after the yield on the 10-year Treasury note TMUBMUSD10Y, -0.33% on Tuesday hit 2.76%, its lowest in seven weeks, on worries about President Donald Trump’s protectionist trade policies. The yield was hovering around that level on Wednesday.

Bond yields move inversely to prices, and a rally implies investors have been seeking a haven in bonds, away from stocks.

Read: Why stock-market investors should embrace a flattening yield curve—for now

What are strategists saying?

“This week is a peculiar one, with very little tier-1 data pending for release, and with a holiday weekend coming up, liquidity should be lower than usual,” said Konstantinos Anthis, researcher at ADS Securities.

“However, we need to keep in mind that it’s also the end of the month and fiscal quarter, which means that large institutions and corporate names are closing off positions to book profits or limit losses,” he said in a note to clients.

Which stocks are in focus?

U.S.-listed shares of Shire PLC SHPG, +0.26% SHP, +17.15% surged 18% after Japan’s Takeda Pharmaceutical Co. 4502, -0.32% said it was considering making an offer for the U.K. biopharma company.

Tesla Inc. TSLA, -8.22% was down 1.5% in premarket trading. After Tuesday’s close, Moody’s Investors Service downgraded Tesla’s corporate debt rating to B3 from B2, citing liquidity pressures.

Facebook FB, -4.90% was off 0.8% in premarket on Wednesday, amid reports that three people plan to sue the social-networking company over alleged privacy violations. Its shares took a hit Tuesday over reports CEO Mark Zuckerberg will face a Congress grilling over handling of user data, while news of a probe by the Federal Trade Commission also took a toll.

Twitter TWTR, -12.03% shares fell 0.9% in premarket. Shares tumbled 12% Tuesday after Citron Research said it would short the stock, citing the social-media company’s vulnerability to privacy regulation.

What data are in focus?

A final reading of fourth-quarter GDP data is due at 8:30 a.m. Eastern Time, along with advance trade in goods. Pending home sales for February are due at 10 a.m. Eastern.

Atlanta Fed President Raphael Bostic will take part in an armchair chat at The Buckhead Club in Atlanta at 11:30 a.m. Eastern.

Check out: MarketWatch’s Economic Calendar

See: Is the pressure off? Inflation likely to die down in February, but don’t get used to it

What are other markets doing?

European stocks SXXP, -0.31% fell 1% across the board, while Asian markets fell on losses driven by tech shares.

Oil prices were under pressure ahead of weekly U.S. stockpile data. Gold futures GCJ8, -0.42% were slightly lower, and the ICE U.S. Dollar Index DXY, +0.41% DXY, +0.41% was mostly flat.