U.S. equity futures slid on Thursday, bogged down by declines in mega-cap names Meta Platforms and Tesla along with a jump in oil prices as geopolitical tensions rise.
Futures for the Dow Jones Industrials fell 300 points, or 0.6%, early Thursday to 52,759.
Futures for the S&P 500 descended 76.75 points, or 1%, to 7,723.50
Futures for the NASDAQ Composite unloaded 486.25 points, or 1.6%, to 29,518.75.
Tesla shares dropped more than 3%, while Meta slipped nearly 2%. The declines came even after the former’s third-quarter results beat estimates — though its automotive revenue was lackluster — while the latter exceeded revenue expectations and offered upbeat guidance.
Technology more broadly was under pressure as well as ongoing concerns about artificial intelligence spending persisted. Advanced Micro Devices fell more than 4%, while Micron Technology fell 3% and Nvidia dropped 2%.
Looking ahead to Thursday, there are a host of companies on deck to report results including Procter & Gamble, Lockheed Martin, Valero Energy and Honeywell.
Investors will also be paying attention to the economic calendar with weekly initial jobless claims set to release Thursday morning.
In Japan, the Nikkei 225 cratered 2.7% Thursday, while in Hong Kong, the Hang Seng tumbled 3%.
Oil prices hiked $2.22 to $99.37 U.S. a barrel.
Gold prices dulled $74.00 to $4,076.00 U.S an ounce.
