Nasdaq futures drop 2.5% as tech selloff deepens; Nvidia, AMD fall 7%

Nasdaq futures plunged up to 2.5% as a deepening selloff in technology stocks hit global markets, with major chipmakers Nvidia and AMD each falling as much as 7%. The sharp decline in US tech futures followed a broad drop across Asian markets, where South Korea's Kospi, Japan's Nikkei 225, and Shanghai's SSE Composite all closed lower, reflecting investor anxiety over AI-related shares. The selloff signals growing concerns about valuations in the artificial intelligence sector, which has driven much of the recent market gains, as traders reassess risk amid volatile trading conditions.