Traders work on the floor of the New York Stock Exchange (NYSE) during the opening bell in New York on April 30, 2026. Timothy A. Clary | AFP | Getty Images Nasdaq-100 futures fell sharply on Thursday as concerns grew about technology companies overspending on artificial intelligence, while traders awaited earnings reports and economic data after a losing session. Contracts linked to the high-tech benchmark index fell 1.1%. S&P 500 futures lost 0.3%. Dow Jones Industrial Average futures fared better, adding 139 points, or 0.3%. CoreWeave shares fell more than 5% in premarket trading, putting the neocloud name on track to take advantage of Wednesday’s losses. The stock fell 15% in the previous session as investors feared the company was borrowing too much for its AI development. CoreWeave corporate bond yields also rose. Those fears permeated the rest of AI trading on Wednesday, with the Nasdaq Composite suffering its biggest one-day loss since July 23. AI-linked stocks, particularly memory chip makers, also fell on Thursday after another sell-off in the Korean stock market. Micron shares fell 3.7% and Sandisk fell 4%. US-listed shares of Sk Hynix fell 7%. Overnight, South Korea’s Kospi index fell more than 7%. Concerns that the Federal Reserve could tighten monetary policy more aggressively before the end of the year are also weighing on stocks, after new data showed consumer prices in September rose faster than expected year-over-year. “Inflation is cooking with gas,” said Jamie Cox, managing partner at Harris Financial Group. “It’s very clear where the inflationary push is originating, but two wars need to end before we get any relief. The Fed made the mistake of calling Covid-era inflation transitory, and now it looks like they’re about to make the same mistake in reverse with the energy supply shock.” New figures for retail sales and weekly jobless claims are also scheduled to be released at that time.
