Stock futures took a nosedive on Thursday night, mirroring Amazon's dramatic plunge following its earnings report. The e-commerce giant's shares tumbled by 10%, falling short of analyst expectations and signaling a $200 billion capital expenditure plan for the year. This Amazon slide, coupled with a broader market sell-off, sent shockwaves through Wall Street, with the Dow Jones Industrial Average, S&P 500, and Nasdaq 100 futures all experiencing significant losses. The tech-heavy Nasdaq Composite took a hit, shedding 1.6% due to Qualcomm's 8.5% post-earnings drop. Software stocks continued their downward spiral, with the iShares Expanded Tech-Software Sector ETF (IGV) shedding another 5%, marking a 11% decline this week and raising concerns about the impact of artificial intelligence on the sector. The market's nervousness was palpable, with Michael Farr, FarrCrest Capital Chair, expressing trepidation on CNBC's 'Closing Bell: Overtime'. The stock market's slide wasn't confined to tech; Bitcoin tumbled 13%, hitting lows not seen since 2024, and silver resumed its slide, a volatile trade that's gained popularity among retail investors. As the week progressed, the market's anxiety persisted, with the Dow and S&P 500 each shedding 1.2%, pushing the S&P 500 into negative territory for 2026. The Nasdaq, meanwhile, is on track for its worst week since the tariff-induced market rout in April. With all eyes on Amazon's earnings and the broader market's volatility, investors are eagerly awaiting Under Armour's earnings report and the nonfarm payroll report, which has been postponed due to the recent federal government shutdown.
