Nasdaq 100: Tech Stocks Lead US Indices Lower in Premarket as Bearish Sentiment Builds

Tech Rout Pressures Nasdaq Toward Steep Weekly Loss

U.S. stock futures declined Friday as losses in major tech names deepened, dragging the Nasdaq Composite toward a 3% weekly decline—its worst since April. The S&P 500 and Dow are also lower this week, down 1.8% and 1.4% respectively.

Futures tied to the Dow shed 114 points, or 0.6%, while S&P 500 and Nasdaq 100 futures each fell 0.3%. Thursday’s session saw the Nasdaq drop 1.9% and the Dow slide nearly 400 points, reflecting renewed concern over tech sector valuations.

Are AI Leaders Driving the Sell-Off?

Nvidia is down nearly 1% premarket and on track for a 7% weekly loss. Oracle shares are also set for a similar drop. Palantir has plunged 12% and Broadcom is off 4% this week. Tesla, Microsoft, and AMD extended declines Thursday, compounding pressure on tech-heavy indexes.

Fears of overvaluation in AI-related names and concentrated market leadership have triggered a retreat in high-growth stocks that previously fueled the year’s gains.

Which Stocks Are Moving Most Premarket?

Airbnb rose 4% after raising Q4 guidance, despite missing earnings estimates. Affirm surged over 10% on strong results. Expedia jumped 15% after reporting upbeat earnings and outlook.

Opendoor plunged 23% following a sharp revenue drop and a strategic pivot to AI. DraftKings fell 7% on wider-than-expected losses. Take-Two slipped 6% after delaying Grand Theft Auto VI to 2026.

Monster Beverage gained 5% on a strong quarter. Peloton rose 4% after posting an unexpected profit. Sweetgreen tumbled 14% on a lowered full-year forecast. Sunrun dropped 8% after reporting fewer new subscribers.

What Broader Concerns Are Pressuring Markets?

Layoffs in October hit a 20-year high for the month, making 2025 the worst year for job cuts since 2009. The delayed nonfarm payrolls report, withheld due to the ongoing U.S. government shutdown, has added uncertainty. The Senate is expected to vote Friday on a stopgap bill as the shutdown continues to impact sectors, including air travel.

What’s the Short-Term Market Outlook?

Sentiment is bearish in the near term, with investors cautious on stretched tech valuations. Some see the pullback as an entry opportunity, pending key events: Nvidia earnings in two weeks and a possible December Fed rate cut. A resolution to the shutdown could also support a potential year-end rally.

More Information in our Economic Calendar.