Stock market today: Dow, S&P 500, Nasdaq wobble after sharp tech sell-off
US stock futures wobbled on Friday as worries over the AI trade lingered following a steep sell-off in Tech (XLK), which sparked a flight to bonds.
Futures for Dow Jones Industrial Average (^YM=F) fell 0.5%, while those for the S&P 500 (^ES=F) dropped 0.2%. Contracts for the Nasdaq 100 (NQ=F) were little changed after semiconductors and Big Tech sold off on Thursday.
(YM=F)
Go deeper with AlphaSpace
52,761.00-307.00(-0.58%)
As of 6:50:51 AM EDT. Market Open.
YM=FES=FNQ=F
The AI trade is coming off a major beating as concerns over rising financing costs and a potential slowdown in capex weighed on already-battered neocloud stocks like CoreWeave (CRWV). AI chip giants Nvidia (NVDA) and AMD (SPCX) also retreated, along with other infrastructure plays.
This week’s earnings headliners, SpaceX (SPCX), Tesla (TSLA), and Meta (META), all declined.
Oil prices remained near a five-month high amid fears of escalating tensions in the Middle East, with Brent crude (BZ=F) touching $113 per barrel and West Texas Intermediate crude (CL=F) climbing to near $100 per barrel.
