US stock futures experienced a downturn on Thursday, reversing earlier gains and moving into negative territory, driven by a tech-led sell-off. Concerns over AI disruption, elevated valuations, and disappointing outlooks from major tech companies contributed to the overall market unease. Labour data revealed significant job cuts and a rise in initial claims, further impacting market sentiment.
- Dow Jones futures shed around 120 points.
This information indicates a potentially bearish outlook for the Dow Jones. The decline in futures suggests that investors are anticipating a decrease in the value of the companies within the index. The tech sell-off, coupled with negative economic data, may contribute to downward pressure on the Dow Jones in the short term.