US 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.
Chip Stocks Selloff
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%.
The Philadelphia SE Semiconductor index hit a nearly two-month-low on Thursday and was set for its worst week since March 2025.
Netflix also weighed on sentiment after the streaming giant forecast third-quarter revenue and earnings below Wall Street expectations. Its shares fell 9.4%.
The renewed bout of volatility drove the CBOE Volatility Index, Wall Street’s fear gauge, to a more-than-one-week high, rising 1.8 points to 18.53.
At 4:55 a.m. ET, Dow E-minis were down 352 points, or 0.67%, and S&P 500 E-minis were down 78.25 points, or 1.03%. Nasdaq 100 E-minis were down 598.25 points, or 2.05%.
Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.
