Traders work at the Nasdaq on Feb. 4th, 2026.
Adam Jeffery | CNBC
Stock futures retreated Thursday night as Amazon shares tumbled following earnings and investors hedged bets following a broad market sell-off.
Dow Jones Industrial Average futures lost 110 points, or 0.2%. S&P 500 futures lost 0.5%, while Nasdaq 100 futures sank 1%.
Amazon shares sank about 10% after the ecommerce giant posted earnings per share slightly under analyst expectations and told investors to expect $200 billion in capital expenditures this year. On the other hand, Reddit popped more than 4% after the social media platform announced an earnings beat, strong guidance and a stock buyback program.
Thursday night’s action followed a rough day on Wall Street, with the market once again bogged down by technology stocks. The tech-heavy Nasdaq Composite sank roughly 1.6%, hampered in particular by Qualcomm‘s 8.5% post-earnings drop.
Software stocks continued sliding, with the iShares Expanded Tech-Software Sector ETF (IGV) losing another 5%. The software sector fund has dropped more than 11% this week, on track for its biggest weekly decline since 2008 amid mounting concerns over the threat artificial intelligence poses to the sector.
The Dow and S&P 500 each shed 1.2% in Thursday’s session, bringing the latter into the red for 2026 alongside the Nasdaq. The Dow is sitting around flat for the week, while the S&P 500 and Nasdaq have slid roughly 2% and 4% respectively. The Nasdaq is on track for its worst week the tariff-induced market rout seen in early April.
“There’s been a little bit of nerves,” FarrCrest Capital Chair Michael Farr said on CNBC’s “Closing Bell: Overtime.” “People are really on tenterhooks saying: When is it going to crack? When are they going to go down? How long can this keep up?”
The stock market slid alongside other asset classes, signaling a broader risk-off sentiment among traders. Bitcoin fell 13%, hitting lows not seen since 2024. The sell-off on silver — a volatile trade that’s gained popular among retail investors recently — resumed on Thursday.
Investors will be watching for Under Armour earnings expected before the bell Friday. The closely watched nonfarm payroll report previously expected for Friday will instead come out next week due to the now-resolved federal government shutdown, according to the Bureau of Labor Statistics.
