U.S. stock futures plummet, with major tech stocks leading the decline again

Golden Finance reports that on June 23, due to large technology stocks experiencing sell-offs and transmitting to Asian artificial intelligence-related stocks, U.S. stock futures declined on Tuesday, while investors await further developments in U.S.-Iran negotiations. On Tuesday, the Asian technology sector suffered heavy losses, ending an eight-day rally, with Japanese and Korean markets collectively retreating, and the Korean stock market plunging nearly 10%. Currently, mega-cap technology stocks generally exhibit synchronized fluctuations, with Alphabet showing weakness, and SpaceX also declining as the IPO boom subsides. Market sentiment is gradually spreading to other leading tech stocks, and a cautious attitude toward the tech sector has re-emerged. This shift contrasts sharply with last year, when almost all AI-related companies were seen as "gold mines," and any enterprise mentioning AI was favored by the market. But now, the market is gradually entering a period of performance verification, with investors demanding that large-scale investments in AI infrastructure must deliver tangible returns. This is especially evident in companies like SpaceX, which have negative cash flow but still raised $75 billion through IPOs. This change keeps market sentiment tense, and this week’s focus will turn to Micron Technology’s earnings call. "Many investors hold AI stocks and have gained substantial profits; any volatility could prompt them to reduce holdings and lock in gains," said Jian Shi Cortesi, fund manager at GAM Investment Management. "Currently, tech stocks are also very sensitive to interest rate outlooks and the Federal Reserve’s potential rate hikes."
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