Stock market today: S&P 500, Nasdaq futures slide as chip sell-off deepens

S&P 500 and Nasdaq futures are sliding as the AI chip sell-off intensifies. Investors are ditching chip stocks, causing Samsung and SK Hynix to drop over 10%. This trend has pushed South Korea’s stock market to its lowest level in three months. The decline is driven by renewed fears regarding massive borrowing by AI companies for datacentre expansion and increasing competition from China, leading to significant volatility across global technology sectors and financial markets.