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Wall St futures fall as chip selloff gathers pace; Netflix tumbles

First publishedJul 17, 09:18 UTC
Last updatedJul 17, 14:57 UTC · 4m ago
11 outletInvesting.com · Stock Market
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Wall St futures fall as chip selloff gathers pace;  Netflix tumbles
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stock index futures slid on Friday as a selloff in chip stocks deepened, forcing investors to reassess the staying power of this year’s AI-fueled rally, while a weak forecast from Netflix added to the pressure. After a blistering run that lifted Wall Street’s main indexes to record highs, investors have started to retreat from crowded semiconductor trades as worries over the scale of AI-related spending resurfaced.

Reported by 1 outlet Investing.com · Stock Market. See all sources ↓

stock index futures slid on Friday as a selloff in chip stocks deepened, forcing investors to reassess the staying power of this year’s AI-fueled rally, while a weak forecast from Netflix added to the pressure. After a blistering run that lifted Wall Street’s main indexes to record highs, investors have started to retreat from crowded semiconductor trades as worries over the scale of AI-related spending resurfaced. Chip stocks were broadly lower, extending the previous session’s losses. Memory-chip makers, among the year’s biggest winners, fell sharply for a second straight day in premarket trading, with SanDisk, Western Digital, Seagate Technology and Micron Technology down between 4.6% and 6.5%.

Read the full report at Investing.com · Stock Market

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In brief
What's the story?
stock index futures slid on Friday as a selloff in chip stocks deepened, forcing investors to reassess the staying power of this year’s AI-fueled rally, while a weak forecast from Netflix added to the pressure. After a blistering run that lifted Wall Street’s main indexes to record highs, investors have started to retreat from crowded semiconductor trades as worries over the scale of AI-related spending resurfaced.
How widely is it covered?
1 outlet, average source rating 6.0/10.
When was it last updated?
4m ago.
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    Wall St futures fall as chip selloff gathers pace; Netflix tumbles

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    Investing.com · Stock Market
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