Tech Rout Hammers S&P 500: U.S. Stock Futures Flat as Tech-Led Losing Streak Continues
Tech stocks just can't catch a break—dragging the S&P 500 into another losing streak while futures flatline. Investors watch nervously as the sector that fueled the decade's rally now weighs it down.
Behind the Numbers
No big earnings misses or economic shocks—just a classic case of profit-taking meets valuation anxiety. The usual high-flyers took the hardest hits while defensive plays barely budged.
What’s Next?
Traders eye Fed signals and inflation data, but let's be real—everyone's just waiting to see if tech bounces back or if this is the start of a real correction. Because nothing says 'healthy market' like a sector representing a quarter of the index swinging 3% daily.
So futures sit idle, caught between fear and FOMO. Because on Wall Street, sometimes the most aggressive move is doing absolutely nothing—while charging management fees, of course.
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The recent market slump was led by tech giants such as Amazon (AMZN), Apple (AAPL), and Alphabet (GOOGL) saw losses exceeding 1%, while Broadcom (AVGO) and Intel (INTC) declined 1.3% and 7%, respectively.
On Wednesday’s regular trading session, the S&P 500 fell 0.2% for its fourth straight loss, the Nasdaq dropped 0.7%, and the Dow ROSE slightly. It must be noted that all three ended the day much higher than their intraday lows.
Looking ahead, all eyes are now on key economic reports due on Thursday. These include the S&P flash manufacturing and services purchasing managers’ index reports, existing home sales data, and initial jobless claims for the week ended August 16.
