{
  "id": 16180947,
  "title": "Wall Street futures edge lower after AI selloff, telecom slide",
  "url": "https://urgent.news/2026/10/23/wall-street-futures-edge-lower-after-ai-selloff-telecom-slide",
  "topic": "ai",
  "section": "AI",
  "published": "2026-10-23T11:42:20.000Z",
  "source": {
    "name": "Investing.com",
    "slug": "investing-com",
    "url": "https://www.investing.com/news/stock-market-news/wall-street-futures-dip-after-ai-rout-telecoms-slide-4968816"
  },
  "original_language": "en",
  "account": "On Friday, Wall Street futures dipped as uncertainty surfaced due to a significant decline in AI-linked stocks, primarily due to concerns over the sector's hefty funding needs. Telecom shares also fell, as investors fretted over increased competition from SpaceX. Major telecommunications firms AT&T, Verizon, and T-Mobile saw their shares plummet by more than 4% in premarket trading following reports of SpaceX discussions with cellular infrastructure companies about launching a nationwide wireless carrier program. Conversely, US cell tower operators saw a boost, with Crown Castle up 8.6% and American Tower rising 6.1%.\n\nAI-related shares experienced a tumultuous week, initially suffering from CoreWeave's debt concerns and the costs of funding AI investments, before bouncing back on Wednesday following SpaceX's and Super Micro's positive results. However, these gains were reversed by Thursday, and tech-heavy Nasdaq suffered a nearly 3% decline on Friday. This downturn intensified after Meta's 8% drop, as the company disclosed its first cash outflow in over a decade, raising doubts about its AI-related expenses.\n\nCoreWeave shares remained flat on Friday, while 'Magnificent 7' stocks like Meta experienced a slight decline of 0.6%. Analyst Daniela Hathorn from Capital.com emphasized that market attention remains on the earnings season, particularly as major companies such as Microsoft, Alphabet, and Amazon are set to report next week. Their results could significantly influence broader market sentiment, given their concentration within US indices.\n\nInvestors are becoming more critical of AI investments, shifting focus from revenue growth to profitability, capital expenditure, and tangible returns. At 07:19 a.m. ET, Dow E-minis slipped 314 points, or 0.59%, while S&P 500 E-minis fell 19.25 points, or 0.25%. Nasdaq 100 E-minis dropped 33.75 points, or 0.12%. Brent crude hovered near a five-month high, driven by Middle East supply worries, adding to inflation concerns ahead of the Federal Reserve’s policy meeting the following week.\n\nNotably, the Nasdaq was poised for a weekly loss, although the S&P 500 and blue-chip Dow remained higher, buoyed by gains in defensive sectors as investors sought safety from the technology stock volatility.",
  "summary": null,
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "The Business Times - Companies & Markets",
        "title": "Apple emerges as Wall Street’s favourite AI haven as spending fears hit",
        "url": "https://urgent.news/2026/10/22/apple-emerges-as-wall-streets-favourite-ai-haven-as-spending-fears-hit",
        "published": "2026-10-22T23:00:00.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}