U.S. stock futures were mostly flat Thursday evening after Wall Street suffered its worst single-day drop in over a month due to worries about AI stocks and interest rates. Futures on the Nasdaq 100 (NDX), the Dow Jones Industrial Average (DJIA), and the S&P 500 Index (SPX) were up 0.12%, 0.17%, and 0.16%, respectively, at 7:20 p.m. EST on November 13.
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Earlier in the day, major indices tumbled, with the Dow Jones down 1.7%, erasing Wednesday’s gains. Also, the Nasdaq and the S&P 500 fell 2.3% and 1.7%, respectively. Tech stocks led the decline, with Nvidia (NVDA) down 3.6% and Broadcom (AVGO) falling 4.3%.
Adding to the pressure, traders are now less sure the Fed will cut rates in December. Further, the end of the historic six-week government shutdown has raised uncertainty as some key economic data missed during the period may not be released. These reports could influence the Fed’s next move.
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