Nasdaq Futures Slide as Global AI Selloff Gathers Pace

By Joe Stonor

Nasdaq futures dropped sharply as a global rout in stocks linked to artificial-intelligence accelerated, while Treasurys strengthened as investors bid a hasty retreat from risk.

Renewed expectations for tighter Federal Reserve policy following Wednesday's hot inflation print added to already nervous sentiment around AI. Investors are fretting about the scale of corporate borrowing to fund the buildout in AI, compounding fears around political pushback against data centers and Chinese chip competition.

"The market is repricing anything that funds multi-year builds against revenue that arrives later, and the growing noise around data center permitting and midterm rhetoric on power prices has given investors another reason to step back," Yorkville Ives technology analysts wrote in a note.

Futures for the tech-heavy Nasdaq fell 1.3% after the index recorded its worst day since July in the last session. Asian stocks tumbled as shares in the region's banner AI stocks cratered. Chip makers Samsung Electronics and SK Hynix lost 9.5% and 11%, respectively, in South Korea, while Japan's SoftBank Group fell 9.3%.

Better-than-expected guidance from Taiwan Semiconductor Manufacturing Company failed to boost sentiment as the Kospi closed 7.5% lower and the Nikkei 225 dropped 4.9%. In Europe, the continent's most valuable company ASML fell over 6%. The selling extended into premarket trade. Micron dropped 4.5% premarket, while Intel and AMD each lost around 3.5%. Nvidia was 1.85% lower.

Investors fleeing AI stocks turned to the safe-haven of Treasurys, while lower oil prices also helped to weigh on yields. Ten-year Treasury yields dropped below 5.100%, while 30-year yields fell 9.1 basis points to trade around 5.430%. Eurozone bonds moved in line with their U.S. peers.

Brent crude oil prices fell 1.9% to trade around $104 a barrel, even amid continued strikes on shipping across the region. The dollar weakened as yields lowered, helping gold prices to rise 1.3% to $4,160 a troy ounce. The weaker greenback wasn't enough to support bitcoin, with the cryptocurrency extending losses to fall 0.4% at around $81,434.

For the day ahead, economic data releases include U.S. PPI inflation data and September advance retail sales. Fed policymakers Austan Goolsbee and Beth Hammack are due to speak.

Write to Joe Stonor at josephmichael.stonor@wsj.com

(END) Dow Jones Newswires

October 15, 2026 04:46 ET (08:46 GMT)