Stock futures fell Thursday evening after a punishing sell-off in artificial intelligence stocks that sent the Nasdaq into correction territory. Traders also awaited a key payrolls report.
S&P 500 futures lost 0.6%, while Nasdaq-100 futures slid 0.8%. Futures tied to the Dow Jones Industrial Average shed 291 points, or 0.6%.
In Asia, South Korea led losses in the region, with the Kospi plunging more than 8% to slip below the 5,000 mark. Japan's Nikkei 225 fell more than 6%, falling into bear market territory. Australia's S&P/ASX 200 slipped 0.9%.
The moves follow a bout of heavy selling during Thursday's regular Wall Street session that saw the three major averages post their worst one-day performances since April 2025. The Nasdaq Composite tanked 5.5%, closing more than 10% below its most recent high and landing in correction territory. The broad-market S&P 500 lost 4.4%, while the Dow fell more than 1,800 points, or 3.4%.
While all 11 sectors of the S&P 500 closed with losses, shares of companies tied to the AI build-out suffered keenly. Democrats' big wins in the House and Senate, as well as key governorships in states like Texas, sparked traders' worries of a potential slowdown in data center construction.