Nasdaq Futures Slide 1.25% as Tech Sell-Off Deepens on AI Valuation Fears
NDX sits 31% above its 52-week low of $22,841.417.
Summary
Nasdaq futures are down 1.25% in pre-market trading on October 15, extending the tech sell-off as concerns over AI valuations and financing costs intensify. South Korea's market plunged 8.34% to its lowest since late July, reflecting global pressure on technology shares. Treasury yields fell across the curve, with the 10-year dropping 9.4 basis points to 5.09%, signaling a flight to safety. Investors await September PPI data, expected to rise 0.5% monthly, which could influence Fed policy expectations. This follows a volatile period for the Nasdaq-100, which entered correction territory in late July and has seen sharp swings on AI spending fears and geopolitical tensions.
At the time of this announcement, NDX was trading at $29,950.82 on NASDAQ in the Technology sector. The 52-week trading range was $22,841.42 to $31,361.37. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Seeking Alpha.