US stock futures sank on Friday as weak results from major technology companies weighed on investor sentiment. Nasdaq 100 futures fell about 1.6%, while S&P 500 futures lost 0.6%.
In after-hours trading, Amazon shares dropped 7% after the company missed both earnings and revenue forecasts and signaled a sharp increase in capital expenditures to meet surging demand for AI-related services. Intel plunged 23% after issuing a downbeat outlook for the current quarter, pointing to emerging weakness in the PC market.
Sandisk slipped nearly 4% despite posting earnings and revenue that beat analysts’ expectations.
In Thursday’s regular session, the tech-heavy Nasdaq Composite declined 1.38%, while the Dow Jones Industrial Average and the S&P 500 fell 0.25% and 0.3%, respectively. Alphabet, Google’s parent company, tumbled 12.6% as weaker-than-expected search and advertising revenue heightened concerns that AI could erode its core business.
