Economic Jitters Pressurize U.S. Stocks Amid Tech Valuation Woes

U.S. stock futures slipped early on Friday, signaling steep weekly declines for major indexes. The tech-heavy Nasdaq, along with the S&P 500 and the Dow, faces notable drops amid growing concerns over lofty valuations in the technology sector and broader economic uncertainties.

Earlier this week, warnings from Wall Street executives about a possible market correction intensified volatility, with the Nasdaq plummeting nearly 2% on Tuesday. Despite optimism spurred by advancements in artificial intelligence, worries about the sector's monetization dampen investor enthusiasm.

Economic uncertainty continues as private indicators, in the absence of government data due to a shutdown, guide the market. Investors are left in suspense, awaiting crucial federal reports. Meanwhile, some companies like Expedia and Sandisk reported positive earnings, though others, such as Block, faced significant downturns.