Futures tracking the tech-heavy Nasdaq fell more than 2% on Tuesday, leading declines on ​Wall Street, as concerns about looming U.S. rate hikes and debt-backed corporate spending on AI weighed on investor sentiment. The weakness ‌follows a sharp selloff in U.S. tech heavyweights in the previous session, driven by doubts over hyperscalers' heavy AI spending, amid elevated valuations and high borrowing costs.

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Reuters Business

Reuters Business

 

Nasdaq futures drop over 2% on concerns over AI buildout costs, Fed rate outlook 

 

Shopify to bar vapes as U.S. authorities crack down on illegal industry 

 

Heineken names outsider Rafael Oliveira as CEO tasked with boosting sales 

 

Nissan shelves development of electric Qashqai in cost-cutting drive 

 

NatPower, Tesla reach deal on first phase of $5 billion battery storage plan 

 

Bath & Body Works partners with Ulta Beauty as it looks to boost sales 

 

What are the Fed's bank 'stress tests' and what's new this year? 

 

Oracle workforce shrinks by about 21,000 employees amid AI adoption 

 

EU to ramp up Meta probe into addictive design, Bloomberg News reports 

 

US opens probe of fatal Tesla crash into Texas home 

 

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