S&P 500, Nasdaq Futures Slide as Chip Sell-Off Deepens
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- S&P 500 and Nasdaq futures are sliding as a chip sell-off deepens, according to Yahoo Finance's live market coverage.
- Tech stocks are tumbling on worries about AI spending and China's chip competition, per The New York Times, while Nasdaq futures fell after an Asian chip stock sell-off as investors await an earnings blitz, CNBC reports.
Why it matters: The double hit of AI spending doubts and escalating Chinese chip competition is landing on the tech sector just as investors need Q3 earnings to justify elevated valuations. Chip-heavy names and the Nasdaq are the immediate canaries for whether the AI capex cycle still justifies current multiples.
