Advertisment
NASDAQ futures fell sharply on Friday, as mounting jitters over artificial intelligence spending weighed on sentiment and dragged global tech stocks lower.
Futures for the Dow Jones Industrials slid 276 points, or 0.5%, to 52,510
Futures for the S&P 500 dumped 59.75 points, or 0.8%, to 7,518.
Futures for the NASDAQ Composite hurtled lower 485.25 points, or 1.7%, to 28,740.50
The major stock benchmarks are also down week to date, with the S&P 500 off by 0.6%, while the Dow is behind 0.2% and NASDAQ has slipped 1.5%.
Shares of Applied Materials and LAM Research shed 4% and 3%, respectively. Intel, KLA Corporation and Arm were around 3% lower, while Micron lost more than 1%. Nvidia shares were 2% lower.
Alongside chips, shares of Netflix were a major laggard Friday, falling more than 11% after the company posted second-quarter results that were roughly in line with expectations as well as a disappointing earnings forecast.
Further escalations in the U.S.-Iran war also remained in focus on Friday, with oil prices rising in their wake. U.S. West Texas Intermediate crude futures were last trading above $80 per barrel, while international benchmark Brent crude futures were above $85.
In Japan, the Nikkei 225 collapsed 4% Friday, while in Hong Kong, the Hang Seng ditched 1.8%.
Oil prices hiked $1.87 to $80.82 U.S. a barrel.
Gold prices brightened $6.90 to $3,999 U.S an ounce.
