U.S. equity futures slipped Thursday as the S&P 500 logged a fourth consecutive decline and the Nasdaq fell another 0.6%, extending a 4.4% weekly loss. Chip makers led the sell‑off, dragging AI‑linked indexes lower worldwide. Japan’s Nikkei dropped over 4% after Softbank Group tumbled 13% on a report that OpenAI may delay its IPO until 2025. The decline adds pressure to valuations surged on AI bets.

Investors have pressed the brakes on the tech rally, fearing the AI boom may lose momentum. The Dow managed a modest gain, keeping the broader market near breakeven for the week. Oil prices added volatility after Iran struck a Singapore‑flagged vessel in the Strait of Hormuz, pushing Brent futures below $74 a barrel. The dip in Brent trims margins for energy‑intensive chipmakers, tightening the tech slump.

With tech giants accounting for most of this year’s equity gains, the slide underscores how quickly sentiment can shift. Traders now watch for any catalyst that could revive AI‑related stocks or stabilize energy markets. Analysts say a rebound depends on clearer AI guidance and easing Middle East tension. Investors will watch upcoming earnings for clues.