Futures options traders work on the trading floor of the New York Stock Exchange (NYSE) in New York, the United States, November 5, 2026.
Jeenah Moon | Reuters
Stock futures were mixed Friday morning after a selloff in artificial intelligence stocks sent the Nasdaq into correction territory. Traders were also awaiting a key payroll report.
S&P 500 Futures Contracts have changed little, while Nasdaq-100 Futures Contracts added 1%. Futures contracts linked to Dow Jones Industrial Average lost 467 points, or 0.91%.
In Asia, South Korea leads the region in losses, Kospi plunging by more than 6%. Japan’s Nikkei 225 index fell 5.9%, falling into bearish territory. Australia’s S&P/ASX 200 index slipped 0.9%. that of Hong Kong Hang Seng Index fell 1%, and mainland China’s CSI 300 index fell 1.47%.
The moves follow a period of heavy selling during Thursday’s regular Wall Street session, in which all three major averages posted their worst one-day performances since April 2025. The Nasdaq Composite fell 5.5%, closing more than 10% below its most recent high and landing in correction territory. The S&P 500 index lost 4.4%, while the Dow Jones fell more than 1,800 points, or 3.4%.
While all 11 sectors of the S&P 500 closed with losses, shares of companies linked to the development of AI suffered significantly. Democrats’ big victories in the House and Senate, as well as key governorships in states like Texas, have raised traders’ concerns about a potential slowdown in data center construction.
Micron Technology and Advanced Micro Devices fell 17% each, while Neocloud CoreWeave fell 10%. Even the Magnificent Seven were not spared, as Nvidia fell 9%, going negative for 2026, and the cohort of tech heavyweights lost over $1 trillion in overall market capitalization.
All three major averages are poised for losses for the week, with the Nasdaq down 4.4% and the S&P 500 down nearly 3% for the period. The 30-stock Dow is the best performer of the three, down just 0.5% since the start of the week.
The pullback creates a buying opportunity, Victoria Greene, CIO at G Squared Private Wealth, told CNBC on Thursday. “The AI business, in my opinion, is not dead here,” she said, adding: “It’s a good discount.” She is interested in memory stocks, citing how management teams have spoken throughout this season about capacity shortage results. “Buying on a volatile decline tends to be a good thing while we are still in a non-recessionary period,” she said.
Another market catalyst awaits investors Friday morning in the form of the October payrolls report. The Dow Jones consensus estimate calls for 59,000 jobs added last month and the unemployment rate stable at 4.2%.
Correction: Victoria Greene is the CIO of G Squared Private Wealth. An earlier version misspelled his name.
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