Stock market today: Stocks fall after Netflix whiff, chips sell-off hammers Nasdaq

US stock futures slid on Friday with the Dow down 0.7%, S&P 500 down ~1%, and Nasdaq-100 down ~2%, extending losses from a downbeat session on Wall Street. Netflix stock dropped over 9% in extended trading after its third-quarter revenue forecast disappointed, as the streaming giant faces a competitive entertainment landscape.

Why it matters: The semiconductor sector continued to drag markets lower after the PHLX Semiconductor Index tumbled over 4% on Thursday, stalling the tech-driven rally from March lows as investors reassess AI spending.