U.S. stock futures slipped early Tuesday as investors reacted to a weak trading session marked by a sell-off in AI and tech stocks. Futures on the Nasdaq 100 (NDX), the S&P 500 (SPX), and the Dow Jones Industrial Average (DJIA) were down 0.78%, 0.60%, and 0.40%, respectively, at 3:05 a.m. EST on November 18.
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During Monday’s trading session, all three major indexes ended with steep losses amid growing concerns over the sustainability of the AI rally and the upcoming interest rate decision. The Nasdaq fell 0.84%, the S&P 500 dropped 0.92%, and the Dow declined 1.18%.
Investors are now awaiting chip giant Nvidia’s (NVDA) third-quarter results on Wednesday, expected to provide crucial insights into the strength of AI-driven growth and the overall tech market outlook.
Turning to economic reports, markets anticipate the delayed September Non-Farm Payrolls report due for release on Thursday and the Federal Reserve’s October meeting minutes. These reports could influence the Fed’s next interest rate decision.
At the same time, traders await earnings results from major American retailers to gauge consumer spending strength. Home Depot (HD), Baidu (BIDU), and PDD Holdings (PDD) are among notable companies reporting today.
Notably, the U.S. 10-year Treasury yield was down, floating near 4.11%. WTI crude oil futures were trending lower, hovering near $59.42 per barrel as of the last check. Additionally, the Gold Spot U.S. dollar price decreased to nearly $4,015 per ounce on Tuesday.
Elsewhere, in Europe, markets opened lower on Tuesday, tracking Wall Street’s decline amid ongoing concerns about the AI sector.
Asia-Pacific Markets Traded Lower
Asia-Pacific markets also traded lower on Tuesday, mirroring global weakness in technology shares.
Hong Kong’s Hang Seng Index dropped 1.79%. In China, the Shanghai Composite lost 0.81%, and the Shenzhen Component fell 1.24%. Meanwhile, Japan’s Nikkei suffered the largest decline of 3.22%, while the Topix slipped 2.88% amid mounting Japan-China trade tensions.
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