Tech Wobble Sparks U.S. Futures Drop as December Rate-Cut Hopes Fade—Is the Market Finally Waking Up?
Wall Street's tech darlings stumble—futures follow suit as rate-cut dreams get a reality check.
Subheader: The Fed's Phantom Rate Cut
Powell's hinted December pivot now looks like another 'transitory' promise—traders slash bets as cold water hits the euphoria.
Subheader: Nasdaq's Not-So-Soft Landing
Mega-caps lead the retreat—because nothing says 'healthy market' like a handful of stocks dragging everything down with them.
Closing jab: Another day, another overreaction. At least the algo-traders will make bank on the volatility.
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During Thursday’s regular trading session, all three major indexes finished lower amid uncertainty over the Federal Reserve’s next policy MOVE and a steep sell-off in technology stocks. The Dow Jones, the Nasdaq Composite, and the S&P 500 fell 1.65%, 2.29%, and 1.66%, respectively, yesterday.
Traders are increasingly uncertain about the Federal Reserve cutting interest rates in December. The recent end of a six-week government shutdown has added to market uncertainty, as several key economic data updates might not be released, potentially complicating the Fed’s decision-making process.
Coming to trending stocks, Walmart (WMT) shares were down about 3% in Friday’s pre-market trading after the retailer announced that CEO Doug McMillon will retire in January. Meanwhile, Applied Materials (AMAT) stock plunged more than 7% after the company cautioned that it expects spending on chipmaking equipment in China to fall in 2026 amid U.S. export controls.
