After Alphabet and chipmaker AMD released mixed quarterly results, the tech sector saw a decline in stock futures on Wednesday.
A drop in Apple put pressure on futures. Futures for the Nasdaq 100 and S&P 500 fell 1% and 0.6%, respectively.
The Dow Jones Industrial Average futures showed a 0.2% decrease, or 87 points.
Alphabet’s stock fell 7% after the Google parent firm reported a cloud revenue miss as it increases its artificial intelligence spending, alarming investors who thought the megacap tech giant would take longer to realise its AI goals.
Revenue for the entire time was also below expectations.
Source (CNBC)