Nasdaq, Dow, S&P 500 Futures Slip As Chip Selloff Overshadows Strong Earnings Season

U.S. stock futures extended declines overnight as a broad technology and semiconductor selloff weighed on markets, with Nasdaq-100 futures down 0.61%, Dow futures down 0.41%, and S&P 500 futures down 0.38%. The rout was triggered by TSMC raising its 2026 capital expenditure forecast to $60–64 billion from $52–56 billion, sparking concerns over the sustainability of AI spending; semiconductors led the drop with MU, AMD, INTC, and AVGO each falling over 5%, and the SMH ETF slumping nearly 4%.

Why it matters: Geopolitical tensions added pressure as the U.S. continued strikes on Iran for a sixth consecutive day, pushing oil prices higher, though some analysts characterized the pullback as a mid-cycle correction rather than a full-cycle top.