Tech Giants Falter Amid AI and Trade War Jitters
U.S. stock index futures fell on Wednesday, with significant losses in the tech sector. Alphabet and AMD faced setbacks due to AI investment concerns and dropping data center sales. Meanwhile, potential trade war developments and Federal Reserve commentary influence market sentiment.

U.S. stock index futures recorded a decline on Wednesday, predominantly led by the tech-heavy Nasdaq. This decline follows disappointing earnings forecasts from Alphabet and AMD amidst a bustling day for corporate reports.
Alphabet, the parent company of Google, saw a 7.1% drop in premarket trading after reporting less than anticipated growth in cloud revenue and allocating $75 billion towards AI development—raising concerns about substantial investments in technology. "Expectations of Silicon Valley's cautious approach against China's AI innovations appear inverted," commented Jochen Stanzl, chief market analyst at CMC Markets.
Advanced Micro Devices dipped 9.1% after CEO Lisa Su indicated a 7% drop in current-quarter data center sales, reflecting a decline in AI-linked revenue. The tech sector faced more turbulence with Apple shedding 2.6% amid a potential antitrust investigation by China's regulators.
(With inputs from agencies.)
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