US STOCKS-Futures down after Saudi air strikes on Yemen

* Oil jumps after air strikes on Yemen

* SanDisk (NasdaqGS: SNDK - news) tumbles in premarket after outlook cut

* Weekly jobless claims, flash Markit (NasdaqGS: MRKT - news) services sector PMI on tap

* Futures off: Dow 124 pts, S&P 14 pts, Nasdaq 46.25 pts

By Chuck Mikolajczak

NEW YORK, March 26 (Reuters) - U.S. stock index futures were lower on Thursday to put the S&P 500 on track for a fourth straight decline, after Saudi Arabia and its allies launched air strikes on Yemen.

* Oil prices spiked, with Brent crude up 3.4 percent to $58.40 and U.S. crude up 3.5 percent to $50.93 after warplanes from Saudi Arabia and its allies struck Shi'ite Muslim rebels fighting to oust Yemen's president. Halliburton (Hanover: HAL.HA - news) shares gained 1.3 percent to $44.02 in premarket trade.

* U.S. stocks dropped on Wednesday as a slump in technology and biotechs sent the Nasdaq to its biggest decline in nearly a year while the S&P 500 fell through key support levels.

* Semiconductor stocks are likely to be under pressure for a fourth straight session, after SanDisk cut its first-quarter and 2015 revenue outlook and withdrew its other forecasts for the same time frame. Shares (Berlin: DI6.BE - news) of SanDisk tumbled 13 percent to $70.60 before the opening bell. The PHLX semiconductor index had its biggest drop since Oct. 10 on Wednesday and is down 6.3 percent for the week.

* Weekly initial jobless claims data will be eyed at 8:30 a.m. (1230 GMT) for signs of continued strength in the labor market. Expectations call for claims to dip slightly to 290,000 from the 291,000 in the prior week.

* At 9:45 a.m. (1345 GMT), the preliminary or "flash" March reading of financial data firm Markit's Purchasing Managers Index on the services sector is scheduled for release.

* Lululemon Athletica (NasdaqGS: LULU - news) lost 1.6 percent to $60.01 in premarket after the Canadian yogawear retailer forecast a weaker-than expected first quarter profit, months after it said margins would trough in 2015 as it continues to invest in improving quality and solving supply-chain problems.

* Consulting and outsourcing company Accenture Plc (NYSE: ACN - news) 's quarterly net revenue rose 5 percent, helped by growth in its outsourcing business as North American companies look to cut costs. Its shares rose 2.6 percent to $90.49 before the opening bell.

* European shares fell with the London Stock Exchange (Other OTC: LDNXF - news) leading the market lower on news Borse Dubai will sell its full stake in the company and ARM Holdings (LSE: ARM.L - news) extending the previous session's steep losses.

* In Asia, Japan's Nikkei suffered its worst drop in 10 weeks on weakness in semiconductor stocks while Chinese stocks ended higher in a volatile volatile sessions as a sharp drop in Internet stocks was offset by a surge in energy shares.

* S&P 500 e-minis were down 14 points, or 0.68 percent, with 208,435 contracts changing hands.

* Nasdaq 100 e-minis were down 46.25 points, or 1.07 percent, in volume of 39,480 contracts.

* Dow e-minis were down 124 points, or 0.7 percent, with 35,886 contracts changing hands. (Reporting by Chuck Mikolajczak; Editing by Chizu Nomiyama)