US stock futures declined on Thursday as weaker-than-expected earnings from major technology companies weighed on market sentiment. In after-hours trading, Broadcom tumbled nearly 14% after reporting fiscal second-quarter revenue that missed forecasts, while cybersecurity firm CrowdStrike slid more than 11% on softer-than-anticipated sales guidance for the second quarter.
The weakness rippled across the broader tech space, with Intel (-2%), AMD (-2.9%), Palantir (-1.5%), Qualcomm (-1.9%), and Arm Holdings (-4.3%) also recording notable losses.
Investors were simultaneously digesting heightened geopolitical risks after renewed exchanges of strikes between the US and Iran, which dampened hopes for a peace agreement and raised concerns about inflationary pressures and the prospect of higher interest rates.
In Wednesday’s regular session, the Dow Jones Industrial Average fell 1.21%, the S&P 500 lost 0.74%, and the Nasdaq Composite declined 0.89%. Six of the 11 S&P 500 sectors finished lower, led by technology, financials, and consumer discretionary shares.
