Stock Futures Mixed as AI Selloff Hits Tech Shares

Dow futures rose 145 points (0.3%) while Nasdaq 100 futures fell 1.3% and S&P 500 futures dropped 0.3% in premarket trading Wednesday, as a selloff in technology stocks accelerated amid growing concerns over an artificial-intelligence bubble and hotter-than-expected inflation data. The Dow found support from defensive non-tech names like UnitedHealth, Merck, and Walmart, while the tech-heavy selloff hit Asian markets hard. South Korea's KOSPI plunged 7.6% as memory chip makers SK Hynix and Samsung dropped 11% and 9.5%, respectively. Micron fell further in U.S. premarket after a 4% decline the prior session, and CoreWeave's stock plunged 15% following a sharp selloff in its corporate bonds. Inflation fears intensified after the Consumer Price Index came in hotter than expected, leading money markets to price in higher odds of a Federal Reserve rate hike before year-end. Producer Price Index data and weekly jobless claims are due later today, which could compound these concerns.