Futures options traders work at the New York Stock Exchange (NYSE) in New York City, USA, November 5, 2026. Jeenah Moon | ReutersStock futures were mixed early Friday after a tough selloff in AI stocks sent the Nasdaq into correction territory. Traders were also awaiting a key payrolls report. S&P 500 futures were little changed, while Nasdaq-100 futures rose 1%. Futures linked to the Dow Jones Industrial Average lost 467 points, or 0.91%. In Asia, South Korea led the losses in the region, with the Kospi plummeting more than 6%. Japan’s Nikkei 225 fell 5.9%, falling into bear market territory. Australia’s S&P/ASX 200 fell 0.9%. Hong Kong’s Hang Seng Index fell 1% and mainland China’s CSI 300 fell 1.47%. The moves follow a sharp sell-off during Thursday’s regular Wall Street session that saw all three major averages post their worst one-day results since April 2025. The Nasdaq Composite plunged 5.5%, closing more than 10% below its most recent high and landing in correction territory. The broad-market S&P 500 lost 4.4%, while the Dow Jones fell more than 1,800 points, or 3.4%. While all 11 sectors of the S&P 500 closed with losses, shares of companies linked to the development of AI suffered deeply. Big Democrats’ victories in the House and Senate, as well as key governorships in states like Texas, have raised concerns among traders about a possible slowdown in data center construction. Micron Technology and Advanced Micro Devices plunged 17% each, while neocloud CoreWeave fell 10%. Even the Magnificent Seven were not spared, as Nvidia fell 9%, turning negative by 2026, and the cohort of tech giants lost more than $1 trillion in aggregate market capitalization. All three major averages are set to suffer losses for the week, with the Nasdaq down 4.4% and the S&P 500 down nearly 3% for the period. The Dow, made up of 30 stocks, is the relatively best performer of the three, down just 0.5% so far this week. The pullback creates a buying opportunity, Victoria Greene, CIO of G Squared Private Wealth, told CNBC on Thursday. “AI trading, in my opinion, is not dead here,” he said, adding that “it’s a good discount.” She’s interested in memory stocks and cites how management teams throughout this earnings season have been talking about the capacity crisis. “Buying into a volatile dip tends to be good as long as we are still in a non-recessionary period,” he said. Another market catalyst awaits investors Friday morning in the form of the October payrolls report. The Dow Jones consensus estimate is that 59,000 jobs will be added last month and that the unemployment rate will remain stable at 4.2%. Correction: Victoria Greene is the CIO of G Squared Private Wealth. An earlier version misspelled his name.
