US stock futures rose after another brutal day of trading on Wall Street ended with the S&P 500 closing in correction territory.

Stock futures were bouncing back early Friday after retreating enough on Thursday to push the S&P 500 into a correction. A correction is when the index falls 10% from its most recent peak and is seen as an important marker for traders.

European stocks and U.S. futures slipped on Thursday as investors turned their attention back to an escalating global trade war.

Equities around the world fell and U.S. Treasury yields rose on Thursday as investors worried about global trade tensions after U.S. President Donald Trump threatened duties of 200% on European beverage imports if the EU does not remove U.

Tech stocks led advances in Asia on Thursday, taking their cue from Wall Street's gains after tepid inflation data allayed concerns over the state of the U.S. economy. U.S. Treasury yields remained elevated after pulling further away from recent lows the day before,