Wall Street Breakfast Tech drags futures lower
Mar 3, 2026
Futures sink as tech stocks lead broader declines. A major cloud provider suffers drone strike damage in the Middle East, causing service outages. The CEO of a leading AI firm admits a rushed Pentagon deal and plans revisions. A database company’s premarket crash and mixed guidance rattles sentiment. Other market movers and debt, geopolitical tensions, and a trade-show preview round out the rundown.
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Tech Weakness Sends Futures Lower
- Tech futures fell sharply with NASDAQ 100 futures down 2.3% and S&P 500 futures down 1.7% ahead of the open.
- Korean chip leaders drove the move as Samsung plunged ~10% and SK Hynix sank 11.5% after a Kospi drop following a prior 50%+ rally this year.
Drone Strikes Damage AWS Middle East Infrastructure
- AWS reported physical damage and service degradation in UAE and Bahrain after drone strikes damaged multiple facilities.
- Two of three UAE availability zones were significantly impaired and customers saw elevated error rates while AWS warned recovery may be prolonged.
Altman Admits Rushed Pentagon Deal
- OpenAI CEO Sam Altman said the company 'shouldn't have rushed' its DoD deal and will amend contract language to restrict domestic surveillance use.
- Altman also noted the Defense Department affirmed tools wouldn't be used by agencies like the NSA as part of de-escalation efforts.