US stock futures tumbled across the board on Friday, as chipmaker Intel's bombshell earnings added to the economic growth jitters putting pressure on the market ahead of the July jobs report. Dow Jones Industrial Average futures tanked roughly 1%, or almost 400 points, as a flight from stocks accelerated. S&P 500 futures sank 1.1%, while Nasdaq 100 futures dived 1.8% in the wake of dismal results from Intel and Amazon .
Meanwhile, Amazon stock slid over 8% on the heels of sales guidance that undershot Wall Street estimates. Both quarterly reports landed hard with investors already questioning the payoff of AI investments after this week's string of lackluster Big Tech earnings. The sell-off comes as Wall Street wonders whether the economic slowdown shown in recent data means the Federal Reserve has kept interest rates at historic highs for too long, risking a recession.
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