Futures Slide As AI Unwind Goe... Note

Futures Slide As AI Unwind Goes Global: Kospi Crashes Into Bear Market, Treasuries Soar

US futures are lower, signaling a global AI unwind driven by concerns over AI financing and slowing growth. South Korea's Kospi crashed into a bear market, and CoreWeave bonds sank deeper into distress. Anthropic's growth, though still strong, is showing signs of deceleration, failing to impress investors. Yesterday's CPI data, initially a scare, has now morphed into a growth scare, pushing Treasuries higher. S&P and Nasdaq futures are down, while Dow and Russell 2000 futures are up slightly. Major tech companies and AI-related stocks are experiencing significant declines. Bonds are rallying across the curve as investors seek haven assets. The dollar is weaker against major currencies, with the Swiss franc showing gains. In commodities, Brent crude is down, gold and silver are up, and copper is sliding. Bitcoin is trading lower. Several key US economic data reports are scheduled for release today, alongside Fed speaker appearances. Treasury will auction a significant amount of bills. Apple is the only major tech stock showing gains in premarket trading. Chipmakers and other AI firms are sliding due to concerns about slowing growth. AngloGold Ashanti is rising on increased central-bank gold purchases. Cirrus Logic is down after a downgrade, while FMC Corp. sinks on a lowered outlook. Penske Automotive Group is set to be taken private. Quantinuum rises on an analyst upgrade, and Rocket Lab falls on launch delay. Walmart gains on a positive analyst upgrade.
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