Stock Futures Slip as AI Spending Worries and Rising Oil Prices Weigh on Markets
- stock futures fell sharply on Thursday, led by a drop in Nasdaq contracts as growth and mega-cap stocks faced renewed selling pressure, according to Reuters reporting.
- Tesla shares fell in premarket trading on Thursday after the electric-vehicle maker cut its annual capital expenditure forecast, according to Reuters.
- Yahoo Finance noted that Tesla also set a lower per-year sales goal of 5 million units by the end of the decade, pulling back from past projections of...
U.S. stock futures fell sharply on Thursday, led by a drop in Nasdaq contracts as growth and mega-cap stocks faced renewed selling pressure, according to Reuters reporting. Dow E-minis fell 365 points, or 0.69%, S&P 500 E-minis lost 81.25 points, or 1.04%, and Nasdaq 100 E-minis dropped 515 points, or 1.72%. CNBC noted that the slide came despite third-quarter earnings beats from Meta Platforms and Tesla, as investors grappled with mounting concerns over artificial intelligence spending and rising geopolitical risks in the Middle East.
Capital Expenditure Cuts and AI Skepticism Weigh on Tesla
Tesla shares fell in premarket trading on Thursday after the electric-vehicle maker cut its annual capital expenditure forecast, according to Reuters. CNBC reported that while Tesla’s third-quarter results beat estimates, its automotive revenue remained lackluster as the company funneled investment into Optimus humanoid robots, artificial intelligence, and robotaxis.
Yahoo Finance noted that Tesla also set a lower per-year sales goal of 5 million units by the end of the decade, pulling back from past projections of 20 million vehicles as CEO Elon Musk shifted the company’s strategic focus toward AI. Adding to the corporate friction, Reuters exclusively reported that some Tesla insiders raised concerns that Musk’s public comments on a potential merger with SpaceX could invite heavy regulatory scrutiny, mirroring years of litigation following Tesla’s 2016 acquisition of SolarCity.
Meta Platforms Funding Expansion and Magnificent Seven Declines
Meta Platforms shares slipped 2% on October 22, 2026, after the social media giant introduced new non-voting shares to help fund its costly artificial intelligence expansion, Reuters reported. CNBC observed that Meta’s commentary regarding the massive amount of funding required to stay competitive caused its shares to roll over in premarket trading, reversing Wednesday’s bullish market tone despite the company beating revenue expectations and offering upbeat guidance.
Yahoo Finance reported that resilience in Meta’s core advertising business and the September debut of its Muse AI assistant—projected by Truist Securities to add $28.5 billion in incremental revenue by 2030—have supported returns during the capital-intensive tech race. Even so, broader Magnificent Seven stocks tracked lower on Thursday, with Amazon falling 1.8% and Nvidia declining 1.9% according to Reuters data, while Investing reported semiconductor stocks including Intel, Advanced Micro Devices, Qualcomm, Marvell Technology, Broadcom, and Micron Technology dropping between 3% and 5.1%.
Geopolitical Tensions Drive Brent Crude Near Five-Month Highs
International benchmark Brent crude futures climbed more than 2.8% on Thursday to reach $111.92 a barrel, near a five-month high, Reuters reported. CNBC attributed the jump to Houthi attacks in Saudi Arabia and reports from The New York Times citing sources that the United States and Israel have drawn up plans for renewed strikes against Iran following the upcoming November U.S. midterm elections.
President Donald Trump told reporters that Washington is not negotiating with Tehran and that something will happen fairly soon, according to CNBC coverage.