S&P 500 and Nasdaq-100 futures fell Thursday as concerns around tech companies overspending on artificial intelligence grew, and traders digested U.S. data that pointed to persistent inflation. S&P 500 futures shed 0.3%, while contracts linked to the tech-heavy benchmark dropped 1.3%. Dow Jones Industrial Average futures outperformed, adding 150 points, or 0.3%. CoreWeave shares dropped 3% in the premarket, putting the neocloud name on pace to build on Wednesday’s losses. The stock tumbled more than 15% in the previous session as investors grew fearful that the company was borrowing too much for its AI build-out. CoreWeave corporate bond yields also surged. Compounding worries in the AI space, sources told CNBC that Anthropic’s revenue grew to $16.8 billion in the third quarter, with some traders concerned the AI giant’s top line might not be growing fast enough to justify the lofty gains in chipmakers. Micron Technology and Advanced Micro Devices led the charge lower, shedding 4% and 3%, respectively. Others like Sandisk fell 5%, while U.S.-listed shares of Sk Hynix dropped 6%. Overnight, South Korea’s Kospi index fell more than 7%. However, the market was supported by gains in areas outside of tech. Shares of retailer Walmart climbed almost 3%, while pharmaceutical giant Merck rose more than 1%. Investors also reacted to more insights on the inflation front. The September reading on producer prices came in at 0.5% on the month, putting the annual inflation rate at 6.3%. That was the biggest 12-month gain since 2022. While the monthly figure was just below the 0.6% that economists polled by Dow Jones expected, the annual rate was above the consensus estimate of 5.5%. Concerns that the Federal Reserve could tighten monetary policy more aggressively before year-end weighed on equities Wednesday after new data showed consumer prices in September rose faster than expected on a year-over-year basis. “Inflation is cooking with gas,” said Jamie Cox, managing partner for Harris Financial Group. “It is abundantly clear where the inflation impulse originates, but two wars need to end before we get any relief. The Federal Reserve made the mistake of calling Covid-era inflation transitory, and now it appears they are set to make the same mistake in reverse on the energy supply shock.” Treasury yields dropped Thursday, as investors cashed in some technology shares and fled to the safety of bonds. The benchmark 10-year Treasury yield last fell more than 13 basis points to 5.056%, as did the 30-year Treasury bond yield to 5.385%. The 2-year Treasury note yield was more than 5 basis points lower to 4.745%. Asia-Pacific markets fell Thursday, with Korean stocks leading declines. South Korea’s Kospi plunged 7.57% to 5,554.22, dragged by chip heavyweights SK Hynix and Samsung Electronics, which fell more than 11% and nearly 10%, respectively. The small-cap Kosdaq lost 7.65% to end the trading day at 760.82. Japan’s Nikkei 225 lost 4.9% to 64,425.95, while the Topix fell 2.38% to 3,999.34. The CSI 300 fell 1.23% to 4,166.01, while Hong Kong’s Hang Seng was down more than 1% in its last hour of trading. Australia’s S&P/ASX 200 ended flat at 8,719.70. Oil fell Thursday as traders assessed potential supply disruptions following attacks on ships passing through the Strait of Hormuz, while digesting the International Energy Agency’s latest monthly report on the outlook of the oil market. Futures for international benchmark Brent crude for December delivery dropped 1.5% to $104.52 a barrel. U.S. West Texas Intermediate futures for November were flat at $94.15 per barrel. Gold prices climbed more ​than 1% on Thursday ​as the dollar and ​US Treasury yields remained under pressure, while investors looked to fresh US inflation data for clues on whether the Federal Reserve will raise interest rates again this month. Spot gold ⁠was ‌up 1.2% to $4,156.11 per ounce by 0917 GMT. US ⁠gold futures for December delivery rose 1.7% to $4,177.80 per ounce. The dollar slipped 0.5%, making greenback-priced bullion more affordable for holders of other currencies, while the benchmark 10-year Treasury yield also fell to a ‌three-week low. “Falling real yields and resilient investment demand help gold recover from its post-CPI selloff, but the technical outlook remains fragile,” said Ole ​Hansen, head of commodity strategy at Saxo Bank.