US stocks slide as Amazon and Intel disappoint, Nasdaq futures fall 2%
US stock futures fell Thursday evening, with Nasdaq 100 futures dropping 2% to 28,975 points after disappointing earnings from Amazon and Intel. S&P 500 futures declined 0.8%, while Dow Jones futures edged up 0.04%. Amazon shares fell 6.7% in after-hours trading after missing revenue and profit estimates for its September quarter, with heavy AI spending pushing free cash flow further negative. Intel plunged nearly 23% after weak fourth-quarter guidance overshadowed solid third-quarter earnings, highlighting divergent trends between its AI-driven server chip business and struggling PC unit. The tech selloff followed Alphabet's disappointing results and weak Samsung Electronics earnings, fueling concerns about excessive AI spending. Strong GDP and PCE data reinforced bets on a Federal Reserve rate hike in December, with the central bank holding rates at 4.0% earlier this week.