Nasdaq futures drop over 2% on concerns over AI buildout costs, Fed rate outlook

Futures tracking the tech-heavy Nasdaq fell more than 2% on Tuesday, leading declines on ​Wall Street, as concerns about looming U.S. rate hikes and debt-backed corporate spending on AI weighed on investor sentiment. The weakness ‌follows a sharp selloff in U.S. tech heavyweights in the previous session, driven by doubts over hyperscalers' heavy AI spending, amid elevated valuations and high borrowing costs.

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Nasdaq futures drop over 2% on concerns over AI buildout costs, Fed rate outlook

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