Nasdaq, S&P 500 futures fall as Nvidia turbulence unsettles AI stocks
SPY•SPY•SPY•SPY•Nasdaq 100 futures fell 0.86% and S&P 500 futures lost 0.4% after Nvidia shares dropped 7.7% premarket on reports its board was weighing CEO Jensen Huang’s ouster. Dow futures rose 0.03%.
Nasdaq 100 futures led Wall Street lower on Thursday as Nvidia’s premarket decline unsettled AI-linked stocks. Reports of a second extramarital affair involving CEO Jensen Huang sent Nvidia shares down 7.7%, while Intel, Marvell Technology and Micron fell 2.7% to 3.5%, and CoreWeave dropped about 7%.
Investors are awaiting Friday’s Producer Price Index after consumer prices rose more than expected last month. Traders saw a December Federal Reserve rate hike as certain, with about a 10% chance of a 50-basis-point increase. Separately, Strategy fell 6.4% premarket after MSCI said it would remove the company from its global indexes.
