US equity futures have reversed all overnight losses which were driven by the latest crash in South Korean stocks, which plunged 8% and closed at LOD, driven by a plunge in memory stocks. Still, the Nasdaq is still lower with tech stocks depressed on news that Sam Altman's OpenAI is seeking to offer a 5% stake to Trump in what is clearly an attempt to incentivize the government to backstop the company whose revenues are clearly below budget. As of 8:00am ET, S&P futures are up 0.1%, while Nasdaq futures drop 0.2% after semiconductors and high beta momentum led Wall Street…