Stock futures rise after major averages tumble in tech sector sell-off: Live updates

Stock futures rise after major averages tumble in tech sector sell-off: Live updates


A trader works, as a screen broadcasts a live interview with U.S. Federal Reserve Chair Jerome Powell, on the floor at the New York Stock Exchange in New York City, U.S., April 16, 2025.

Brendan McDermid | Reuters

Stock futures rose early Thursday after a steep sell-off in the prior session.

Futures tied to the Dow Jones Industrial Average added 265 points, or 0.66%. S&P 500 futures advanced 0.75%, while Nasdaq 100 futures climbed 0.81%.

Major stock indexes sank on Wednesday, led by a significant decline in technology stocks and mounting tariff worries.

The Dow Jones Industrial Average lost 1.7%, or nearly 700 points. The S&P 500 dropped about 2.2%, while the tech-heavy Nasdaq Composite declined nearly 3.1%. The Nasdaq ended the session roughly 19% off its closing high, bringing it closer to bear market territory.

Chipmaking giant Nvidia lost 6.9% in the previous session after disclosing a quarterly charge of about $5.5 billion tied to exporting its H20 graphics processing units, or GPUs, to China and other destinations due to U.S. export controls. Other semiconductor stocks, including AMD and ASML, also sold off as investors’ realized that greater uncertainty from new U.S. President Donald Trump’s tariff plans could affect demand for chips.

Stocks hit session lows during Wednesday afternoon after Federal Reserve Chair Jerome Powell said before the Economic Club of Chicago that Trump’s levies could drive up inflation in the near term and are “likely to move us further away from our goals.” Powell said the central bank may find itself in a “challenging scenario” in which its dual-mandate goals — which are to achieve maximum employment and stable prices — are in tension.

“Despite the fact that Powell said that the dual mandate wasn’t currently in opposition, he clearly touched a nerve with investors, who are now worried that a recession and stagflation is more likely,” said Chris Zaccarelli, chief investment officer for Northlight Asset Management.

Trading activity has been volatile ever since the Trump announced its sweeping “reciprocal” tariffs on April 2, many of which were put on hold for 90 days last week while tariffs on China rapidly escalated. Trump’s surprise tariff exemption against smartphone and PC imports announced over the weekend provided some brief respite for markets, leading stocks higher on Monday. The major averages have since posted back-to-back losing days.

Investors remain concerned about the economic impact of tariffs, particularly as earnings season ramps up.

“I think the economy is on very weak knees right now,” Bleakley Financial Group chief investment officer Peter Boockvar said Wednesday evening on CNBC’s “Fast Money.”

The S&P 500 and Nasdaq have dropped about 6% and 5.7%, respectively, this month. The 30-stock Dow has lost about 5.6%.



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