March 28, 2018 / 1:07 PM / a year ago

US STOCKS-Nasdaq set to open lower on tech weakness

* Facebook gains after announcing changes to privacy settings

* Tesla slips after U.S. opens probe on fatal crash

* Stocks set for their worst month since Jan. 2016

* Futures: Dow up 71 pts, S&P up 4.25 pts, Nasdaq off 17 pts

(Adds comments, details, updates prices)

By Sruthi Shankar

March 28 (Reuters) - Nasdaq futures slipped on Wednesday as tech stocks remained under pressure on concerns about increased regulations in the wake of Facebook’s data privacy issue.

Facebook has lost more than $100 billion in market value since March 16, when it first acknowledged that user data had been improperly harvested by a consultancy firm.

The stock was up 0.6 percent in premarket trading after the social network said it was giving users more control over their privacy by making data management easier and redesigning the settings menu.

“We had Facebook making some announcements. That’s obviously taking some pressure off the stock at the moment,” said Andre Bakhos, managing director of New Vines Capital LLC in Bernardsville, New Jersey.

“It’s enough to get some short covering, but as far as pouring in, most investors will wait until the dust settles.”

The sell-off in the sector has pushed S&P 500 technology index down 5.17 percent for the month, on track for its worst performance in nearly two years.

The broader markets have also suffered this month on a back-and-forth between the United States and China on tariffs and fears of rising interest rates. The main indexes are on track for their worst month since January 2016.

Comments from top officials in the United States and China had given a sense that both the countries would negotiate over President Donald Trump’s move to impose tariffs on Chinese goods.

China is expected to soon announce a list of retaliatory tariffs on US exports, its state-run Global Times reported on Wednesday.

At 8:43 a.m. ET, Dow e-minis were up 71 points, S&P 500 e-minis rose 4.25 points and Nasdaq 100 e-minis fell 17 points.

Tesla dropped about 3 percent after the U.S. government said it would investigate a fatal crash and vehicle fire of a Model X in California.

Apple fell 0.5 percent after a Goldman Sachs analyst cut sales estimate for iPhone for March- and June-quarter, citing weak demand.

Netflix, Alphabet and Amazon were also down.

Blackberry’s U.S.-listed shares jumped 5 percent after the company reported a smaller quarterly loss, helped by higher margins from software and services sales.

Lululemon Athletica surged about 8 percent after the Canadian athletic apparel maker posted a surprisingly strong fourth-quarter profit and forecast further growth in the first quarter. (Reporting by Sruthi Shankar in Bengaluru; Editing by Anil D’Silva)

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