Tech Giant Alphabet's Announcement Sends Nasdaq and S&P 500 Futures Tumbling

Nasdaq and S&P 500 futures fell as investors reacted to mixed earnings reports from Microsoft and Alphabet. Alphabet's shares dropped almost 7% after beating on earnings and revenue but falling short in its cloud business, while Microsoft's stock rose almost 4% after a double beat. Other tech giants, including Amazon and Meta, also saw declines. The pressure from surging Treasury yields continued to impact tech stocks, but attention will now turn to earnings reports from Boeing, IBM, and General Dynamics. Deutsche Bank's shares jumped nearly 7% after the German lender's profit beat estimates.