Nasdaq-100 Futures Drop 0.9% as AI Chip Stocks Slide on Samsung Demand Fears
Updated
Updated · CNBC · Jul 6
Nasdaq-100 Futures Drop 0.9% as AI Chip Stocks Slide on Samsung Demand Fears
3 articles · Updated · CNBC · Jul 6
Summary
Nasdaq-100 futures fell 0.9% Tuesday, while S&P 500 futures slipped 0.1% and Dow futures rose 87 points, signaling pressure concentrated in tech rather than the broader market.
Micron dropped 5% in premarket trading, with KLA, Marvell, Nvidia, Broadcom and AMD also lower as investors again rotated out of AI-linked chip names.
Samsung helped trigger the move after its shares sank nearly 7%, dragging South Korea's Kospi down almost 5% as spending and demand worries outweighed a sharp jump in second-quarter operating profit.
The pullback follows Monday's rally, when the Dow closed above 53,000 for the first time and the Nasdaq gained more than 1% on a semiconductor rebound.
Investors are now shifting focus to whether upcoming second-quarter earnings can clear elevated expectations, with U.S. trade deficit data due Tuesday and no major earnings releases scheduled.