Stock futures open a monster week after a $5 trillion AI wipeout
Stock futures for the Dow, S&P 500, and Nasdaq opened higher Sunday evening as Wall Street begins a week featuring Apple earnings and midterm elections. This rebound follows a brutal October selloff where AI and chip stocks lost approximately $5 trillion in market value since October 6. While AI assets plummeted, 625 other large US stocks gained about $1.3 trillion. Investors are now hedging against further losses and seeking insurance as risks mount and AI spending momentum slows.
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- ✓ AI and chip stocks lost about $5 trillion in market value since October 6.
- ✓ Stock futures for the S&P 500, Nasdaq 100, and Dow opened higher Sunday evening.
- ✓ Wall Street is anticipating Apple earnings and midterm elections this week.
- ✓ The S&P 500 slipped about 0.6% last week, though 9 of its 11 sectors rose 1% or more.
What changed
Stock futures rose between 0.2% and 0.4% on Sunday night following a $5 trillion loss in AI market value.
Live updates
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Stock Futures Rise Following $5 Trillion AI Market Wipeout
Stock futures for the Dow, S&P 500, and Nasdaq opened higher Sunday evening as Wall Street begins a week featuring Apple earnings and midterm elections. This rebound follows a brutal October selloff where AI and chip stocks lost approximately $5 trillion in market value since October 6. While AI assets plummeted, 625 other large US stocks gained about $1.3 trillion. Investors are now hedging against further losses and seeking insurance as risks mount and AI spending momentum slows.
Why it matters
The divergence between AI stocks and the broader market highlights a growing concentration of risk in tech infrastructure. Goldman Sachs suggests S&P 500 earnings growth may slow if AI spending continues to lose momentum. This volatility occurs against a backdrop of $100 oil and significant political uncertainty.
What is confirmed
- AI and chip stocks lost about $5 trillion in market value since October 6.
- Stock futures for the S&P 500, Nasdaq 100, and Dow opened higher Sunday evening.
- Wall Street is anticipating Apple earnings and midterm elections this week.
- The S&P 500 slipped about 0.6% last week, though 9 of its 11 sectors rose 1% or more.
Still unconfirmed
- GM will switch from the NYSE to Nasdaq on November 17.
What to watch next
- Apple earnings report
- US midterm election results
- Changes in oil prices relative to the $100 mark
confidence 90%Sources used for this update (18)
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- superpowerdaily.com — AI data-center borrowers face higher costs as lenders struggle to absorb more debt
- cashwalklabs.io — GM will switch to Nasdaq from the NYSE on Nov. 17
- Yahoo Finance — AI stocks just lost $5 trillion — but history says the stock market's sweetest stretch starts now
- WSJ — AI Investors Are Racing to Get Insurance on the Biggest Market Bet in History
- Seeking Alpha — Wall Street scrambles for protection as AI investment risks mount (XLK:NYSEARCA)
- The Jerusalem Post — AI investors hedge against losses amid tech stock selloff
- Yahoo Finance — Stock futures open a monster week after a $5 trillion AI wipeout
- Seeking Alpha — S&P 500 earnings growth to slow as AI spending loses momentum, Goldman Sachs says
- The Motley Fool — A Wall Street Firm Modeled Out an AI Crash: S&P 500 Down 30%, $20 Trillion Gone. But Here's What Happens Next
- Bloomberg — Each Selloff Brings AI’s Day of Reckoning Closer
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