{"id":73845,"date":"2026-10-29T18:38:24","date_gmt":"2026-10-29T22:38:24","guid":{"rendered":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/us-stock-futures-slide-amid-big-tech-earnings-chinese-semiconductor-firms-launch-major-ipos\/73845\/"},"modified":"2026-10-29T18:38:24","modified_gmt":"2026-10-29T22:38:24","slug":"us-stock-futures-slide-amid-big-tech-earnings-chinese-semiconductor-firms-launch-major-ipos","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/us-stock-futures-slide-amid-big-tech-earnings-chinese-semiconductor-firms-launch-major-ipos\/73845\/","title":{"rendered":"US Stock Futures Slide Amid Big Tech Earnings; Chinese Semiconductor Firms Launch Major IPOs"},"content":{"rendered":"<h2>Key Takeaways<\/h2>\n<ul>\n<li><strong>Nasdaq 100 futures fell 1.4%<\/strong> and <strong><a href=\"https:\/\/stockmarketwatch.com\/indices\/sp500\/today\" data-internallinksmanager029f6b8e52c=\"3\" title=\"snp500 today\">S&amp;P 500<\/a> e-minis dropped 0.6%<\/strong> as disappointing earnings from Alphabet (<a href=\"\/stock\/GOOG\">GOOG<\/a>) triggered a sell-off in technology stocks.<\/li>\n<li><strong>Jiangsu Xinde Semiconductor Technology<\/strong> launched a global offering of <strong>106.6 million H shares<\/strong> on the Hong Kong Stock Exchange, targeting a listing date of <strong>November 10<\/strong>.<\/li>\n<li><strong>Suzhou Denglin Technology<\/strong> is proceeding with a global offering of <strong>6.1 million H shares<\/strong>, with trading also expected to commence on <strong>November 10<\/strong> under the exchange\u2019s specialist technology rules.<\/li>\n<li>Market sentiment was weighed down by <strong>Alphabet\u2019s 12.6% <a href=\"https:\/\/stockmarketwatch.com\/movers\/premarket\" data-internallinksmanager029f6b8e52c=\"7\" title=\"Premarket Movers\">premarket<\/a> plunge<\/strong>, its worst daily performance in over 20 years, following concerns over AI capital expenditure returns.<\/li>\n<\/ul>\n<h2>US Markets Retreat on Tech Earnings Volatility<\/h2>\n<p>US stock index futures signaled a sharp opening decline on Thursday as investors reacted to a wave of high-stakes corporate earnings. The <strong>Nasdaq 100 futures<\/strong> led the retreat with a <strong>1.4% drop<\/strong>, while <strong>S&amp;P 500 e-minis<\/strong> fell <strong>0.6%<\/strong>. The downward pressure was primarily driven by Alphabet (<a href=\"\/stock\/GOOG\">GOOG<\/a>), which saw its shares tumble after reporting weaker-than-expected growth and rising costs associated with its artificial intelligence infrastructure.<\/p>\n<p>While <a href=\"https:\/\/stockmarketwatch.com\/stock\/MSFT\" data-internallinksmanager029f6b8e52c=\"18\" title=\"Stock: MSFT\">Microsoft<\/a> (<a href=\"\/stock\/MSFT\">MSFT<\/a>) reported strong results with <strong>48% growth<\/strong> in its Azure cloud business, the broader market remained focused on the sustainability of AI-related profits. <em>Investor sentiment has shifted from rewarding AI investment to demanding clear evidence of bottom-line impact.<\/em> This caution overshadowed positive macroeconomic data, including <strong>third-quarter GDP growth of 3.4%<\/strong>, which exceeded economist forecasts of 3.2%.<\/p>\n<h2>Chinese Semiconductor Firms Accelerate Hong Kong Listings<\/h2>\n<p>Amid the global tech volatility, two prominent Chinese semiconductor players are moving forward with significant initial public offerings in Hong Kong. <strong>Jiangsu Xinde Semiconductor Technology<\/strong>, a provider of advanced assembly and testing services (OSAT), has officially launched its global sale of <strong>106.6 million H shares<\/strong>. The company, which ranks seventh among China\u2019s general-purpose OSAT providers, expects to begin trading on <strong>November 10<\/strong>.<\/p>\n<p>Simultaneously, <strong>Suzhou Denglin Technology<\/strong>, a developer of high-performance general-purpose GPUs (GPGPUs), is offering <strong>6.1 million H shares<\/strong>. Denglin is listing under the Hong Kong Stock Exchange\u2019s <strong>Chapter 18C<\/strong>, a pathway designed specifically for specialist technology companies. The firm, which has reportedly raised between <strong>$300 million and $400 million<\/strong>, is a critical player in China\u2019s domestic push for AI computing self-sufficiency.<\/p>\n<h2>Outlook for the Semiconductor Sector<\/h2>\n<p>The dual listings of <strong>Jiangsu Xinde<\/strong> and <strong>Suzhou Denglin<\/strong> highlight the continued appetite for semiconductor infrastructure despite broader market headwinds. <em>Analysts note that while these firms face significant front-loaded capital expenditures and historical losses, their strategic roles in the AI supply chain remain a draw for institutional investors.<\/em> Both companies are scheduled to debut on the <strong>Stock Exchange of Hong Kong<\/strong> on <strong>November 10<\/strong>, providing a fresh test for the region&#39;s IPO market.<\/p>\n<p>In the US, the focus remains on the &quot;Magnificent Seven&quot; earnings and the Federal Reserve&#39;s next move. Following the Fed&#39;s decision to hold interest rates steady at <strong>3.75%\u20134.00%<\/strong>, markets are now pricing in a potential hike in December. <em>The combination of persistent inflation data and high-valuation tech earnings is likely to keep volatility elevated in the near term.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways Nasdaq 100 futures fell 1.4% and S&amp;P 500 e-minis dropped 0.6% as disappointing earnings from Alphabet (GOOG) triggered 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