US Futures Turn Lower on Tech Volatility

2026-06-26 11:51 By Andre Joaquim 1 min. read

US equity futures were firmly lower on Friday as fresh uncertainty on the AI trade reignited selling pressure for chip producers and AI companies.

Contracts for the S&P 500 and Nasdaq 100 fell 0.5% and 1.2%, respectively, to two-week lows.

Hyperscale cloud providers in the Magnificent 7 held their sharp drops from the previous session on lingering concerns that AI spending may have been overdone, with Nvidia, Tesla, and Oracle dropping more than 1% premarket.

Also, memory and other chip producers came under fresh selling, trimming gains from yesterday's rally fueled by Micron's earnings results amid concerns that AI infrastructure spending will slow.

Micron and Sandisk dropped 5%.

Concurrently, a report indicated that OpenAI could delay its IPO, also aligned with lower spending for compute capacity.

In turn, the Dow was close to the flatline after testing record highs yesterday to reflect resilience from traditional sectors of the economy.



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