Nasdaq Futures Slide 1.3% as Global AI Rout Deepens
IXIC sits 29% above its 52-week low of $20,690.249.
Summary
Nasdaq futures dropped 1.3% after the index's worst day since July, as a global selloff in AI-linked stocks accelerated. Asian chipmakers led the decline: Samsung fell 9.5%, SK Hynix 11%, and SoftBank 9.3%, while ASML dropped over 6% in Europe. Premarket, Micron lost 4.5%, Intel and AMD about 3.5% each, and Nvidia 1.85%. Investors fled to Treasurys, pushing 10-year yields below 5.10% and 30-year yields down 9.1 bps to 5.43%. The move follows Wednesday's hot inflation print and renewed Fed tightening expectations, compounding fears about AI capital spending, data center permitting, and Chinese competition. Brent crude fell 1.9% to $104, and gold rose 1.3% to $4,160. Today's PPI and retail sales data, plus Fed speakers Goolsbee and Hammack, will test the risk-off tone.
At the time of this announcement, IXIC was trading at $26,692.87 on NASDAQ in the Technology sector. The 52-week trading range was $20,690.25 to $27,722.75. This news item was assessed with negative market sentiment and an importance score of 8 out of 10. Source: Dow Jones Newswires.