Netflix miss and chip rout drag Nasdaq lower as markets turn cautious
TL;DR Summary
U.S. stock futures slid Friday as Netflix's weak revenue forecast spurred a tech and chip sell‑off, pushing the Nasdaq lower after NFLX dropped more than 9% in after‑hours trading and the SOX fell over 4%. The tech rally has cooled as AI/cloud spending optimism wanes, with Asian markets also weaker. Investors await earnings from Truist and Fifth Third and the University of Michigan's consumer sentiment data for clues on the economy.
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