S&P 500 futures slip as chip selloff and hot inflation weigh on stocks
The gist
S&P 500 futures were up 0.2% Friday but the index was set to end the week 0.9% lower.
Chip stocks and sticky inflation are testing a market sitting near record highs.
How it unfolded
- Oct 13, 2026S&P 500 futures were down less than 0.1% at 7:50 a.m. in New York after the benchmark closed little changed near a record; Nasdaq 100 futures fell 0.7% as the chipmaker selloff extended.
- Oct 13, 2026JPMorgan Chase and Wells Fargo both posted higher third-quarter profit, but their shares slipped 3.4% and 1% premarket; Micron fell 3.8% and an ETF tracking chipmakers dropped nearly 2% premarket.
- Oct 13, 2026South Korea's KOSPI closed down 5.5% after falling more than 7%, and U.S. chip names including Nvidia, AMD and Western Digital also declined.