AI Jitters Shake Tech Stocks Amid Tariff and Inflation Turmoil

In a turbulent start to the day, U.S. stock index futures suffered declines amid growing concerns over artificial intelligence impacting technology stocks. The Nasdaq is on track to experience its most significant monthly drop since March 2025, even as investors anticipate key inflation data.

This month has been particularly unstable for technology shares, affected by fears surrounding AI alongside doubts about the return on substantial investments in the sector. Volatility was further fueled by tariff uncertainties, as the U.S. Supreme Court overturned most duties imposed by President Trump last year. In retaliation, Trump declared a temporary global tariff of 10%, effective from Tuesday.

Nvidia edged up 0.4% after a significant fall the previous day, while Zscaler plunged 9.1% due to a broader net loss, and Intuit fell 3.6% after predicting a profit warning. Meanwhile, Netflix surged after strategic business decisions, and Block jumped nearly 19% following significant workforce cuts and AI integration plans.