Wall Street Futures Slip as AI Spending Worries and Telecom Stocks Weigh on Markets
What Happened
US stock futures declined on October 23, 2026, following a technology-led selloff. At 7:19 a.m. ET, Dow futures fell 0.59%, S&P 500 futures dropped 0.25%, and Nasdaq 100 futures slipped 0.12%. AT&T, Verizon and T-Mobile each lost more than 4% in premarket trading after reports that SpaceX was exploring a nationwide wireless service.
Key Takeaways
Investors remained concerned about the cost and returns of AI investments, while potential competition from SpaceX pressured telecom shares. Upcoming technology earnings will provide further information about AI spending and profitability.