Big tech earnings send Nasdaq futures down over 700 points
Business
Nasdaq futures fell sharply, down 2.5% or more than 700 points, after big tech names reported disappointing earnings on Friday.
Investors are worried about slowing growth and how much companies are spending on AI, setting up a rough day for US markets.
Amazon, Intel shares plunge, Sensex rises
Amazon's shares dropped 7.4% and Intel's plunged a massive 25% in early trading, with Alphabet also seeing a big loss after its earnings announcement and Samsung after missing expectations.
Even AI giants like NVIDIA and AMD weren't spared, both sliding as part of the global tech slump.
Meanwhile, Indian markets went against the grain: the Sensex actually rose by more than 300 points, helped by strong demand for IT stocks and upbeat results from Tata Group's Trent Ltd.