Nasdaq Futures Claw Back Losses After Asian AI Rout, Payrolls Loom

what happened

Nasdaq futures bounced after a sharp decline in artificial intelligence stocks deepened during Asian trading, while investors position themselves ahead of key US employment figures due Friday. According to Dow Jones Newswires, tech-heavy Asian indexes slid: South Korea's Kospi finished more than 6% lower, and trading there was halted for 20 minutes amid panic selling. Japan's Nikkei 225 came close to correction territory.

Pressure eased in the US, with Nasdaq futures up 1.2% after the index lost $2.5 trillion in market value on Thursday, its worst day since April 2025. S&P 500 futures gained 0.2%, while Dow Jones contracts fell 0.8%. The Democratic sweep in the US midterm elections raised the risk of political intervention slowing AI data center construction, prompting investors to reassess their bets.

Ten-year Treasury yields slipped to about 4.83%, their lowest since early September, while thirty-year yields hovered near 5.25%. Brent crude fell 0.7% to $97.60 a barrel, gold in New York dropped below $4,100 a troy ounce, and Bitcoin traded around $75,500.

why it matters

The October jobs report is the main event for markets: a hot print would raise the odds of a Federal Reserve rate hike and could weigh again on growth stocks. Safe-haven demand is already supporting bonds, so the reaction to the data could be sharp.

market impact

AI stocks and Nasdaq: rebound after the selloff, but election and rate risks remain

• ↔Nasdaq futures mixed — the rebound faces risk of political pressure on AI infrastructure buildout
• ▲US Treasuries pressure up — safe-haven demand amid the equity selloff pushes yields lower
• ▼Brent pressure down — oil eased as broader risk appetite weakened

tags

instruments