Stock Futures Slump as Tech Selloff Rages On After Mag 7 Dumped

Tech stocks were on track to extend their recent slump on Friday as investors continued to fret about soaring memory-chip costs and wondered if the AI trading frenzy may be about to fizzle out. Nasdaq 100 futures dropped 1.1%. The Nasdaq closed in the red on Thursday as investors ditched the Magnificent Seven group of mega-cap tech stocks.