Tech selloff deepens as AI spending concerns hit equities and drop Treasury yields

Global financial markets are facing widespread selling pressure ahead of European trading as skepticism over big-tech artificial intelligence spending mounts. Nasdaq futures fell 1.8%, dragging wider equity benchmarks lower after Amazon shares dropped 7% in after-hours trading. The rout follows disappointing earnings and AI capex concerns at Alphabet, Amazon, and Intel. The risk-off move sparked a flight to safety in sovereign debt, driving the US 10-year Treasury yield down to around 4.90% and the 30-year yield to about 5.26%, both hitting more than one-month lows.