Dow, Nasdaq Futures Drop Triple Digits as Tech Rout Continues

Futures on the Dow Jones Industrial Average (DJIA) and Nasdaq-100 Index (NDX) are down triple digits, while S&P 500 Index (SPX) futures suffer notable losses as well. Continued strife surrounding the valuation and future of AI is driving sentiment, with semiconductor stocks such as Oracle (ORCL) and Nvidia (NVDA) moving broadly lower. 

This has placed not only the chip sector on track for a weekly loss, but all three indexes as well. Should these losses hold, it will mark the first weekly drop in four for each. Meanwhile, a stopgap funding measure is expected to go through a vote in the Senate, as the government shutdown enters its 38th day.

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• Plus, Musk's latest earnings scheme; GTA VI suffers another setback; and construction name bolstered by earnings beat.

5 Things You Need to Know Today

1. The Cboe Options Exchange saw 2.5 million call contracts and 1.4 million put contracts exchanged on Thursday. The single-session equity put/call ratio dropped to 0.56, while the 21-day moving average remained at 0.58.
2. Tesla Inc (NASDAQ:TSLA) stock is 0.5% lower ahead of the open, after 75% of the company's shareholders gave the green light for an incentive payout package for CEO Elon Musk. The $40 level has moved in as a floor of support, as the shares continue to struggle to overtake their December record highs.
3. Shares of Take-Two Interactive Software, Inc (NASDAQ:TTWO) are down 1.1% ahead of the bell, after the video game maker delayed for the third time the release of "Grand Theft Auto VI," now slated for a Nov. 19, 2026 release. The company also hike its full-year outlook. Over the past 12 months, TTWO has charged 51% higher.
4. Fluor Corp (NYSE:FLR) stock is 7.5% higher this morning, after the construction giant's third-quarter earnings comfortably beat analyst expectations. The engineering firm also hiked its fiscal-year guidance. FLR has been pulling back from its breakout attempt that was capped by the $52 ceiling, but has added 25% over the past six months.
5. How next week's economic data is impacted by the shutdown.

Tech Pushes Overseas Markets Lower As Well

Asian markets finished lower today, mimicking their U.S. counterparts. Japan’s Nikkei lost 1.2%, with SoftBank a notable laggard. South Korea’s Kospi gave back 1.8%, as chip giant Samsung pulled back. Hong Kong’s Hang Seng and China’s Shanghai Composite shed 0.9% and 0.3%, respectively, with the latter weighed down by imports and exports falling short of expectations last month.

European stocks are lower at last check, as AI continues to course correct and earnings take center stage. London’s FTSE is off by 0.8%, the French CAC 40 is down 0.5%, and the German DAX is 1% lower.