U.S. stock futures fell sharply on Friday as disappointing earnings from Amazon, Intel, and Alphabet triggered a broad selloff in technology shares, while a massive $6.3 billion hack of Binance added further pressure on crypto markets. Nasdaq 100 futures dropped about 2% to 28,870.75, breaking below the key support level of 28,796 and hitting their lowest since August 3. S&P 500 futures slid roughly 1%, while Dow futures remained nearly flat.
Amazon and Intel led the declines. Amazon shares fell between 6.5% and 7% in premarket trading after its third-quarter online retail results missed estimates, despite solid growth in Amazon Web Services. Intel stock plunged 25–26% after soft sales and a weak fourth-quarter outlook, with weakness in its PC segment overshadowing a sharp rise in AI-related revenue. Alphabet extended its losses, having already lost about $497 billion in market value on Thursday—its worst day in over two decades—as investors worried about heavy AI spending and a deteriorating core advertising business.
The selloff was compounded by a report that North Korean hackers breached Binance and drained $6.3 billion, the largest hack in crypto history. Circle and Tether froze $3 billion of the stolen stablecoins, mitigating part of the damage. The incident raised concerns about security across the crypto industry, causing shares of Coinbase and Gemini to fall and adding to the negative sentiment in digital asset markets.
Federal Reserve policy also weighed on investor sentiment. The central bank left interest rates unchanged at 3.75–4.0%, but two officials voted to hike rates, and strong third-quarter GDP data increased expectations that further tightening may be needed. Oil prices rose, with Brent crude reaching $112 per barrel and WTI at $103.
From a technical standpoint, Nasdaq 100 futures are now below the 50-day moving average and the lower area of the fixed range volume profile, suggesting a bearish path with the next key target at 28,000 points.
