Stocks futures were mixed on Thursday as worries over AI financing grew, and a global semiconductor sell-off deepened
Futures for the Dow Jones Industrial Average (^YM=F) rose 0.2% while the S&P 500 (ES=F) futures declined 1%. Contracts for the Nasdaq-100 (NQ=F) fell more than 1%.
The declines in the Nasdaq and S&P extended Wednesday’s losses after a hot inflation print sparked fears of Fed tightening.
Semiconductor stocks continued to sell off as the KOSPI index (^KS11) declined 7% overnight. Taiwan Semiconductor Manufacturing Company (TSM) stock was poised to open lower on Thursday despite posting a record profit and beating estimates amid global demand for AI chips.
Concerns over borrowing costs also weighed on the AI trade, hitting shares of Nvidia (NVDA)-backed CoreWeave (CRWV).
The stock’s sell-off underscored concerns about the neo-cloud provider’s debt-heavy balance sheet and whether it can scale its business quickly enough to cover rising interest expenses.
Separately, Apple (AAPL) stock gained in premarket after once again crossing the $5 trillion mark, just months after it first touched the threshold in late July.
Brent crude futures (BZ=F), the global benchmark, fell to $104 per barrel.
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