Stocks Down Pre-Bell Amid Tech Selloff

08:10 AM EDT, 10/23/2026 (MT Newswires) -- The benchmark US stock measures were pointing lower before the open Friday as concerns over artificial intelligence spending continue to weigh on investor sentiment. The S&P 500 edged down 0.1%, and the Dow Jones Industrial Average declined 0.5% in premarket activity, while the Nasdaq 100 slipped 0.1%. Equity markets closed the previous trading session mostly in the red, with the Nasdaq Composite recording its biggest one-day percentage drop since June 5. Shares of Nvidia (NVDA), Advanced Micro Devices (AMD) and Tesla (TSLA) were inching higher before the bell after closing the previous session in the red amid concerns over AI-related spending. Meta Platforms (META), which recently vowed to continue investing aggressively to support its core business and AI initiatives, nudged down 0.6% following a 7% drop at the close of Thursday. American Express (AXP), SLB (SLB), Infosys (INFY), Rogers Communications (RCI), Booz Allen Hamilton (BAH) and Autoliv (ALV) report their latest financial results before the opening bell, among others. Treasury yields were moving higher early Friday, with the two-year rate increasing 4.5 basis points to 4.68% and the 10-year rate adding 3.5 basis points to 4.99%. West Texas Intermediate crude oil gained 1.7% to $101.12 a barrel, while Brent advanced 1.2% to $114.48. In a social media post on Thursday, President Donald Trump accused Iran of "doing everything they can" to drive up oil prices before the US midterm elections next month. "They are even making up fake hits, mines, and everything else, because more oil is coming through the (Strait of Hormuz) now than it did even prior to the beginning of the conflict," Trump said. Iran's Islamic Revolutionary Guard Corps said Thursday that four vessels were struck in the Persian Gulf and three others were hit by mines in the Strait of Hormuz, CNBC reported, citing the state-affiliated Tasnim news agency. Shares of Moderna (MRNA) fell 5.5% before the bell following an 18% drop at the close of Thursday after leaked data from its experimental cancer vaccine trial fell short of elevated market expectations, The Wall Street Journal reported Thursday. Moderna and its partner Merck later said in a statement that their experimental cancer vaccine, intismeran autogene, combined with Keytruda reduced the risk of melanoma recurrence or death by 42% in a phase 3 trial. Deckers Outdoor (DECK) slipped 8% as the footwear designer and distributor cut its full-year sales outlook. "A promotional US footwear marketplace is driving a softer topline outlook and fueling bear concerns around category saturation/long-term growth durability," Truist said in a Thursday client note about the company. Friday's economic calendar has the S&P Global's (SPGI) flash purchasing managers' index for October at 9:45 am ET, followed by the final University of Michigan consumer sentiment report for the same month at 10 am. The weekly Baker Hughes oil-and-gas rig count is out at 1 pm. Spot gold dipped 0.5% to $4,038 per troy ounce, while bitcoin nudged 0.3% higher to $81,602.