Nasdaq Futures Fall 0.7% as AI Selloff Intensifies on China Chip Breakthrough

Nasdaq futures fell 0.7% as a global AI stock selloff deepened. Chinese chip maker CXMT announced a memory technology breakthrough, and Broadcom CEO compared AI investors to casino gamblers. Micron dropped 4% premarket, SanDisk 5.2%, Nvidia 1%. Asian markets cratered: Kospi -5.5%, Samsung -7.4%, SK Hynix -10%, Nikkei -1.8%, ASML -3.2%. Oil fell to ~$104.50/bbl. 10-year yield fell 6.5 bp to 5.181%. Gold rose above $4,200/oz; bitcoin ~$83,100. J.P. Morgan shares up 1.4% after initial fall.