The selloff in shares of companies tied to AI looked poised to continue, with a swath of companies declining premarket, though Dow futures were up.
Thursday saw the Dow outperform the Nasdaq by the most in over a year, as Broadcom lost $286 billion in market value and Micron fell 7.7%, subtracting $94.24 billion in market capitalization.
The S&P 500's nine-week win streak is now in jeopardy, with the index up just 0.1% this week.
"If the dramatic rise of trillion-dollar chip companies was a sign that the AI theme still has legs, we got glimpses of the AI-fatigue too from a trillion-dollar chip company, as its market cap fell below $2 trillion, " German fund manager DWS said.
Investors will be reacting to the latest jobs data, expected to show 80,000 jobs created last month and an unchanged unemployment rate of 4.3%.
