Nasdaq futures under pressure as tech sell-off deepens

Stock index futures were mixed on Thursday, with Nasdaq futures under pressure as technology stocks extended their sell-off, amid mounting concerns over artificial intelligence valuations and financing costs.

Dow futures (INDU) +0.45%, S&P 500 futures (SPX) -0.32%, and Nasdaq futures (US100:IND) -1.25%.

Markets in South Korea fell 8.34% to around 5,540, extending their losing streak to seven sessions and reaching their lowest level since late July as concerns over AI valuations and financing costs intensified the global technology sell-off.

Investors will monitor the Producer Price Index for September, with headline PPI expected to rise 0.5% for the month and 5.4% annually, driven by energy costs.

Retail sales, the Philadelphia Fed Manufacturing Index, and the Federal Reserve's balance sheet are also on the economic calendar.

Federal Reserve Chair Kevin Warsh is scheduled to participate in a fireside chat before the International Monetary Fund's annual meeting.

The 2-year Treasury yield (US2Y) fell 7.2 basis points to 4.74%, the benchmark 10-year Treasury yield (US10Y) fell 9.4 basis points to 5.09%, and the 30-year Treasury yield (US30Y) fell 9.1 basis points to 5.43%.

Among S&P 500 stocks, Bank of New York Mellon +2.30%, Regions Financial +1.90%, Automatic Data Processing +1.51%, and Universal Health Services +1.37%.

Sandisk -4.73%, Western Digital -4.42%, Lumentum -3.71%, Corning -3.49%, and Seagate Technology -3.32%.