Nasdaq futures continued their downward trend as of 16:13 local time in Bangkok on Wednesday, while futures linked to the Dow Jones Industrial Average and S&P 500 saw modest gains after declining in the prior session. Ongoing volatility in major technology shares drove the movement, drawing investor attention to upcoming corporate earnings reports.
Futures contracts tied to the Dow increased by 0.2%, with S&P 500 contracts showing a marginal gain of under 0.1%. Meanwhile, Nasdaq futures dropped 0.07%, extending losses attributed to concerns around artificial intelligence that had weighed on equities a day earlier.
Tuesday’s trading session saw significant selling pressure on technology shares, with both Nvidia and Microsoft shares losing more than 2%. Nvidia shares continued to slide in pre-market trading, falling a further 0.5%.
The decline was due to the report that OpenAI, a key industry partner, has expressed reservations about the performance of Nvidia’s GPUs. Simultaneously, Nvidia is reconsidering a planned $100 billion investment in OpenAI, citing shifting sentiment between the two companies.
Nvidia’s stock move was mirrored in international markets, with the Thai Stock Exchange’s depositary receipt tracking NVDA falling by approximately 3% in Wednesday’s morning session.
The loss is expected to intensify with growing uneasiness after The Financial Times indicated that U.S. authorities are scrutinizing Nvidia’s AI chip exports to China. Those sales, centered around Nvidia’s H200 chips, have been under review for nearly two months, even after President Donald Trump authorized the exports, according to individuals with knowledge of the situation.
In China, prospective buyers have put orders for Nvidia’s H200 AI chips on hold, awaiting clarity on whether U.S. authorities will grant necessary export licenses, or what limitations might ultimately be attached to such sales, according to the Financial Times.
