New York, N.Y. — Stock futures fell sharply late Thursday as investors reacted to disappointing earnings from Amazon and a continued sell-off in technology stocks. Futures on the Dow Jones Industrial Average dropped by 168 points, translating to a decline of 0.3%, while the S&P 500 futures experienced a 0.6% dip, and Nasdaq 100 futures plummeted by 1.1%.

Amazon’s stock took a significant hit, sinking 11% after the online retail giant reported earnings per share that slightly missed analysts’ expectations. The company also indicated plans for $200 billion in capital expenditures for the upcoming year, raising concerns among investors about future profitability. In contrast, shares of Reddit surged more than 3% following a solid earnings report and an announcement of a stock buyback program, showcasing varying investor sentiments amid a turbulent market.

The declines in stock futures were a continuation of a difficult trading day for Wall Street, with the Nasdaq Composite Index suffering a decline of roughly 1.6%. The tech sector bore the brunt of the downturn, particularly after Qualcomm experienced an 8.5% drop in its stock post-earnings, further exacerbating the market’s woes.

Software stocks faced a particularly rough week, as the iShares Expanded Tech-Software Sector ETF fell another 5%, marking an overall drop exceeding 11% this week alone. This downturn could be attributed to growing apprehensions regarding the potential impact of artificial intelligence on the sector, leading to fears of overvaluation.

Both the Dow and S&P 500 indices recorded declines of 1.2% in Thursday’s trading session, pulling the S&P 500 into a negative territory for the year. The Nasdaq has dropped nearly 4% over the week and appears on track for its most significant weekly decline since April 2026.

Market analysts noted a prevalent sense of unease among investors, with many wondering how much longer the current market trend can sustain itself. Michael Farr, chair of FarrCrest Capital, characterized the market sentiment as one of nervousness, with investors poised to make cautious moves.

The broader risk-off sentiment was evident across various asset classes, with Bitcoin experiencing a startling 16% drop overnight, briefly falling below $61,000. Silver also faced renewed selling pressure, reflecting the volatility in financial markets and a shift in investor preferences.

Looking ahead, attention will be focused on upcoming earnings reports, particularly that of Under Armour, set to be released before trading opens on Friday. Additionally, a key nonfarm payroll report, originally scheduled for release on Friday, has been postponed to next week due to a recently resolved federal government shutdown, according to the Bureau of Labor Statistics.

As the market navigates these challenging waters, investors will be closely monitoring earnings reports and economic indicators, striving to gauge the long-term implications for market stability.