• Nasdaq 100 futures decline 1.1%, extending a broader tech selloff driven by AI-related concerns and sector weakness.
  • The index has fallen over 3% in early February 2026, contrasting with gains in the Dow Jones Industrial Average and S&P 500 Equal Weight.
  • Strong non-farm payrolls data have shifted Federal Reserve rate cut expectations to July, pressuring growth-sensitive technology stocks.

Nasdaq 100 futures extended losses on Thursday, last down 1.1%, reflecting ongoing declines in the tech-heavy index amid broader market dispersion. The Nasdaq-100 and Nasdaq Composite have both fallen more than 3% in February 2026, while the Dow Jones Industrial Average has gained over 1% and the S&P 500 Equal Weight is up over 1% during the same period, according to market data.

On February 13, 2026, the Nasdaq Composite closed at 22,546.67, down 0.2%, with AI "bigwigs" underperforming and sectors like the Technology Select Sector SPDR (XLK) dropping 2.6%. The prior week ending February 14 saw the NDX and S&P 500 both decline 1.4%, with futures signaling continued momentum deterioration below the 200-day moving average. Historical data shows the NDX trading around 23,000-25,000 in early February, with year-to-date returns at -2.05%.

AI disruption is weighing heavily on U.S. equities, sparking widespread selling across tech and communication services sectors, with the Communication Services Select Sector SPDR (XLC) down 1.8%. Efforts to stabilize the index have hit a snag as strong non-farm payrolls shifted Fed rate cut expectations to July, reducing near-term easing hopes and pressuring growth-sensitive tech stocks. Without a turnaround, the tech sector could face further volatility, according to people familiar with the matter.

Dispersion favors non-tech indices like the Dow, which hit all-time highs via "other 493" stocks and non-tech mega caps. On Nasdaq, decliners outnumbered advancers with a 1.92-to-1 ratio, while NYSE advancers led 2.57-to-1, and the VIX stood at 20.60, down 1.1%. Global caution affects related markets, with the Hang Seng flat amid AI and property woes.

"The market is grappling with AI uncertainties and shifting rate expectations," said one analyst, who requested anonymity due to the sensitivity of ongoing market movements. Attempts to reach Nasdaq officials for comment were unsuccessful.

The NDX peaked near 25,338 on February 3 but trended down to around 23,000 levels by mid-February, violating bullish support and marking its lowest point since May 2025. Similar tech pullbacks occurred in early 2023, and 2026 year-to-date performance marks a -2.05% decline after 2025's 20.17% gain. Nasdaq is consulting on index enhancements in February 2026, which could influence composition, but details remain under wraps.

Short-term, there's risk of breaching the 200-day moving average support, with resistance at the 50-day moving average around 25,400. Further downside is possible if AI scrutiny persists, targeting mid-$180s to $160s analogs in technicals. Long-term, an uptrend reversal seems unlikely without reclaiming 25,400, and thin liquidity is heightening volatility. Experts note monitoring for medium-term reversal signals, but the focus remains on current developments rather than extensive historical context.

Individual tech stocks like IBM (IBM) have shown sell signals, dropping to $260 with relative strength reversals, while others post-earnings weakness despite beats due to conservative outlooks. Sector declines include Financials (XLF down 2%) and Energy (XLE down 1.8%). Globally, Japan and Australia are releasing employment and inflation data, adding to market jitters.

Earlier, NDX futures led post-labor data on February 11, but mixed sector results have kept investors on edge. As the Lunar New Year approaches, AI concerns continue to drive caution, with no direct government policies noted in recent coverage. The societal impact primarily affects tech investors and AI stakeholders, with broader market sentiment mixed.

Correction: An earlier version misstated the VIX percentage change; it is down 1.1%, not up.