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.
Futures tumble as Meta, Microsoft cost warnings highlight AI trade risks
This was originally published on post