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Stock market news today: US futures steady after steep Big Tech-led sell-off

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Earnings misses have put the spotlight on the health of the economy after a Big Tech-led sell-off.

US stocks steadied ahead of the bell Thursday, as investors regrouped after a Big Tech-led wipeout inspired by AI doubts and turned focus to upcoming data as concerns about the economy crept in. Dow Jones Industrial Average futures traded flat, while S&P 500 futures slipped 0.1%, both on the heels of steep closing losses. Nasdaq 100 futures fell 0.2%, coming off the worst day for the tech-heavy index since October 2022.

Nikkei 225 sank to a 3%-plus loss at the close, though a sudden yen gain also drove the Tokyo benchmark into technical correction. At the same time, big-name earnings misses elsewhere have helped stir already emerging concerns about the robustness of the US economy. Given that, traders are nudging up odds the Federal Reserve will lower interest rates sooner than expected, CME FedWatch data showed.

 

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