Nasdaq futures sink 2.3% as Amazon, Intel and Alphabet send AI jitters through stocks
Source: Fortune ·
Alphabet's Class A shares slid more than 12% on Thursday in their worst ever trading day as it reported weaker growth for the summer than analysts expected.
From the source
U.S. futures are falling Friday as technology companies such as Amazon, Intel and Alphabet all tumble lower, pressuring Wall Street. Futures for the S&P 500 dropped 1% on Friday, while those for the Nasdaq declined 2.3%. Futures for the Dow Jones Industrial Average were unchanged. Bitcoin dropped about 3% to $77,695 after a major $6.36 billion hack at Binance, the cryptocurrency exchange. Binance temporarily suspended withdrawals and deposits. Alphabet’s Class A shares slid more than 12% on Thursday after the company behind Google and YouTube reported weaker growth for the summer than analysts expected. That was their worst day since they began trading more than 20 years ago. The tech giant had been under pressure to at least meet analysts’ expectations for growth amid concerns about how much it’s spending to invest in artificial intelligence. Its shares were down slightly before the market open on Friday. AI-related stocks have been volatile. Shares of chipmakers and other companies…