Futures tumble as Meta, Microsoft cost warnings highlight AI trade risks

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Wall Street futures fell sharply on Thursday, as warnings from Meta Platforms and Microsoft about rising artificial intelligence-related costs dampened optimism around megacaps, which have been the market’s primary driver this year. Shares of Facebook-owner slumped 4%, while Microsoft dropped 3.7% in premarket trading. Both companies beat earnings estimates in results reported after the bell on Wednesday.