"Nasdaq Futures Plunge as Earnings Take Center Stage in Today's Stock Market News"

The stock market closed deep in the red as the tech-heavy Nasdaq led the declines, down about 1.8%, while the S&P 500 dropped roughly 1.2%. Tech stocks remain under pressure after booking their worst single-day performance in eight months on Wednesday, with concerns growing over high valuations in a world of surging Treasury yields. The benchmark 10-year yield fell 11 basis points to trade near 4.85% after the latest GDP showed the US economy grew at its fastest pace in nearly two years. Other central banks, such as the European Central Bank, are beginning to shift their monetary policy.