Pre-Market Update: $800 Billion Wiped From Tech Stocks — Can Markets Bounce Back Friday?
TLDR
- Dow, S&P 500, and Nasdaq futures rose slightly Friday after a sharp Thursday sell-off
- The “Magnificent Seven” lost nearly $800 billion in market value in a single day
- Alphabet and Tesla earnings disappointed, triggering the tech rout
- Trump’s new Section 301 tariffs of 10–12.5% on major trading partners took effect overnight
- Bitcoin dipped 0.4% to $65,360 as risk sentiment weakened
US stock futures edged higher Friday morning as investors tried to find their footing after one of the worst days of the year for tech stocks.
Dow futures gained around 0.5%. S&P 500 futures rose 0.2%. Nasdaq futures were barely positive, up just 0.1%.
The modest recovery comes after a brutal Thursday session. The so-called “Magnificent Seven” group of mega-cap tech stocks lost nearly $800 billion in combined market value in a single day.
The sell-off was triggered by earnings from Alphabet and Tesla, both of which showed rising AI spending that spooked investors. Markets in Asia followed Wall Street lower, with Japan’s Nikkei and South Korea’s KOSPI both falling.
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