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US stock futures rise after tech-led sell-off
US stock futures edged higher Thursday evening, after a sell-off led by the market's largest technology companies, which contributed to a broader decline in US stock indexes.
Futures linked to the Dow Jones Industrial Average rose about 63 points, or 0.1%, while futures for the S&P 500 and Nasdaq 100 also climbed by roughly 0.1% each.
US stocks fell on Thursday, with companies benefiting from the artificial intelligence boom facing renewed pressure amid growing concerns about their high valuations.
The Dow Jones Industrial Average fell 398.70 points, or 0.84%, to close at 46,912.30. The S&P 500 fell 1.12% to close at 6,720.32, while the Nasdaq Composite dropped 1.9% to finish at 23,053.99. The Nasdaq 100 has declined more than 2% since last Friday's close, on track for its worst week since early April.
The biggest downward pressure came from shares of Nvidia, Microsoft, Palantir Technologies, Broadcom, and AMD.
Artificial intelligence stocks have been volatile since the beginning of November, and this trend continued on Thursday. Qualcomm shares fell nearly 4% despite the company reporting better-than-expected quarterly results, but also warning of the potential loss of future business with Apple.
Shares of AMD, which had been among Wednesday's top performers, fell by 7%, while Palantir and Oracle shares declined by approximately 7% and 3%, respectively.
Shares of Nvidia, a leading AI company, also declined, along with Meta Platforms, a member of the "Big Seven" group.
