05.02.202623:56:38UTC+00US Futures Drop as Amazon Drags

US stock futures experienced a downturn on Friday, driven primarily by a significant drop in Amazon shares following the release of its earnings report. This decline accentuated the ongoing selloff in the technology sector. Nasdaq 100 futures decreased by over 1%, while S&P 500 and Dow futures fell by 0.7% and 0.4%, respectively. In after-hours trading, Amazon shares plummeted more than 10% after the company announced plans to increase capital expenditures to approximately $200 billion this year, with a substantial portion allocated to artificial intelligence projects and infrastructure. This projection unsettled investors, who are already apprehensive about the extent and viability of substantial AI investments. On Thursday, both the S&P 500 and Nasdaq Composite saw declines of 1.23% and 1.59%, respectively, marking their third consecutive session of losses. The Dow also fell by 1.2%. Chipmakers faced pressure, particularly after Qualcomm dropped 8.5% due to a cautious outlook related to weaker memory demand and inventory challenges. Software stocks continued to decline amid escalating concerns that artificial intelligence could significantly disrupt the sector.