US stock market: Why are Wall Street futures falling today? AI fears trigger global tech selloff

Sharp Drops In Big Tech Companies Pull The Nasdaq Down In Early Trading

Big tech crashed (Nasdaq –1.5%, Nvidia –2.4%, Micron –9.4%) on Fed rate-hike signals; markets price 90% odds of increases before year-end. Higher borrowing costs risk strangling the AI capex wave, forcing enterprises to recalibrate foundation model and infrastructure spending.