Nasdaq Futures Weaken as Tech Stocks Plunge
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jun 23 2026
0mins
Stock futures have weakened ahead of the open, with Nasdaq futures under the most pressure as large-cap growth names and semiconductor stocks remain under strain. Markets are setting up for a risk-off session as investors digest a broad technology selloff, rising concern around AI spending levels and a more hawkish interest-rate backdrop. Investors appear increasingly focused on whether enormous capital spending commitments across AI infrastructure, data centers and chips can justify current valuations.Interest rates are also back in focus. Markets have become more sensitive to the possibility of tighter monetary policy expectations, which tends to hit long-duration growth assets the hardest. Higher rates reduce the present value of future earnings, making richly valued technology stocks especially vulnerable to sentiment shifts.Outside of tech, oil prices have eased as Middle East supply concerns moderated, reducing one of the market's major recent inflation fears. That could potentially provide some support to cyclicals, industrials and consumer sectors if lower energy costs persist.In pre-market trading, S&P 500 futures fell 1.47%, Nasdaq futures fell 3.02% and Dow futures fell 0.49%.Check out this morning's top movers from around Wall Street, compiled by The Fly.HIGHER -Edgewell Personal Careup 10% after Bloombergthe company has rejected an unsolicited acquisition bid from private equity firm Yellow Wood PartnersIBMup 4% after JPMorgan upgraded the stock to Overweight with a price target of $291, up from $270Avis Budgetup 3% after disclosing a settlement and release agreement with Pentwater Capital Management and certain affiliated persons to settle its pending lawsuit against Pentwater for the recovery of short-swing profitsUP AFTER EARNINGS -Korn Ferryup 3%DOWN AFTER EARNINGS -Sunbelt Rentalsdown 5%LOWER -Primorisdown 35% after axing its FY26 outlook and announcing the departure of its COO Jeremy KinchQualcommdown 6% after Bloombergthat the company is in advanced discussions to acquire Modular in a deal valuing the AI chip startup at roughly $4BOracle (ORCL) down 3% after Reutersthe company has reduced its workforce by 21,000 employees as part of a restructuring effortNvidiadown 2% amid broader tech selloffEnergy Fuelsdown 2% after entering a definitive agreement to acquire 100% of Vacuumschmelze, Ara VAC and their respective consolidated subsidiaries from Ara Partners for a total cash-and-stock consideration of approximately $1.9B
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Analyst Views on EPC
Wall Street analysts forecast EPC stock price to fall
5 Analyst Rating
3 Buy
2 Hold
0 Sell
Moderate Buy
Current: 26.670
Low
19.00
Averages
23.60
High
32.00
Current: 26.670
Low
19.00
Averages
23.60
High
32.00
About EPC
Edgewell Personal Care Company is a manufacturer and marketer of personal care products. With operations in approximately 20 countries, its products are widely available in more than 50 countries. The Company has three segments: Wet Shave, Sun and Skin Care, and Feminine Care. The Wet Shave segment consists of products sold under the Schick, Wilkinson Sword, Edge, Skintimate, Billie, Shave Guard and its custom brands group, as well as non-branded products. The Company’s Wet Shave products include razor handles and refillable blades, disposable shave products, and shaving gels and creams. The Sun and Skin Care segment products are sold under the Banana Boat, Hawaiian Tropic, Bulldog, Jack Black, Cremo and Wet Ones brand names. Feminine Care markets products under the Playtex, Stayfree, Carefree and o.b. brands. It offers tampons under the Playtex Gentle Glide 360, Playtex Sport, Playtex and o.b. brands. It also markets pads and liners under the Stayfree and Carefree brands.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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See More
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See More
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- Product and Packaging Innovation: Edgewell is committed to embedding sustainability into its operations, reflecting the company's proactive approach to environmental challenges while meeting consumer demands, thereby enhancing brand image and market competitiveness.
- External Recognition and Collaboration: Amy Knight, Vice President of Global Sustainability, emphasized that Edgewell's sustainability philosophy is integrated into its business operations, with team dedication and collaboration enabling the achievement of these goals, further enhancing the company's sense of social responsibility.
- Global Market Presence: Operating in over 50 markets worldwide with approximately 6,200 employees, Edgewell leverages its diversified brand portfolio to drive business growth and transformation, showcasing strong market adaptability and commitment to sustainability.
See More
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- Sustainability Progress: Edgewell's FY25 report indicates a 30.8% reduction in virgin petroleum-based plastic in product packaging, which not only mitigates environmental impact but also enhances brand image in alignment with consumer demand for sustainable products.
- Operational Efficiency Gains: The company achieved a 40% reduction in greenhouse gas emissions and diverted 88% of manufacturing waste from landfills, optimizing resource use and strengthening its competitive edge in environmental responsibility.
- Employee Satisfaction Improvement: In the Global Experience Survey, 86% of employees reported satisfaction with Edgewell as a workplace, reflecting the company's successful efforts in employee care and corporate culture, which aids in attracting and retaining talent.
- External Recognition: In 2025, Edgewell was certified as a Great Place To Work and ranked among America's Most Responsible Companies for seven consecutive years, enhancing the company's market reputation and laying a foundation for future business growth.
See More
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- Asian Market Impact: Japan's Nikkei index dropped over 3%, while South Korea's Kospi index plummeted more than 10%, with foreign investors offloading over $2.5 billion in Kospi shares, indicating a global bearish sentiment towards tech stocks.
- Mixed Manufacturing Data: The US June manufacturing PMI unexpectedly rose to 55.7, surpassing expectations, indicating economic resilience; however, the Richmond Fed's manufacturing survey current conditions fell to 4, below the expected 8, suggesting uncertainty in economic recovery.
- Bond Market Reaction: Amid the stock sell-off, the 10-year T-note yield fell to 4.493%, while the 10-year breakeven inflation rate dropped to a 6-month low of 2.210%, reflecting increased demand for safe-haven assets.
See More
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- Market Performance: The S&P 500 Index fell by 1.04%, reaching a 1.5-week low, while the Nasdaq 100 dropped by 2.67%, reflecting investor concerns over high valuations in tech stocks, which could impact future investment decisions.
- Asian Market Impact: Japan's Nikkei Index declined by over 3%, and South Korea's Kospi fell by more than 10%, with foreign investors offloading over $2.5 billion in Kospi shares, exacerbating negative sentiment and contributing to a global market downturn.
- Divergent Manufacturing Data: The U.S. June manufacturing PMI unexpectedly rose to 55.7, surpassing expectations, indicating economic resilience; however, the Richmond Fed manufacturing survey fell to 4, suggesting challenges in the economic recovery that may influence Fed policy.
- Bond Market Reaction: In response to the sharp equity selloff, the 10-year T-note yield dropped to 4.485%, indicating increased demand for safe-haven assets, although upcoming Treasury auctions may exert upward pressure on yields.
See More
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- Weak Component Stocks: Among the ETF's weakest performers are Sandisk, which fell about 12.5%, and Credo Technology Group Holding, down approximately 11.2%, reflecting a pessimistic outlook on these companies' prospects.
- Market Reaction: The overall market's low sentiment may lead investors to reassess their investment strategies in AI-related assets, potentially resulting in capital outflows from the ETF and exacerbating its downward pressure.
- Investor Confidence: As the ETF underperforms, investors may develop doubts about the long-term growth potential of the AI sector, impacting future investment decisions and market dynamics.
See More
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- Tech Selloff: Tech stocks broadly declined, with Micron Technology dropping over 10%, marking its worst day since June 5, leading to a significant selloff across the sector.
- Accenture Buyback Boost: Consulting giant Accenture's shares rose nearly 2% amidst the market downturn after announcing a $2 billion increase in its share repurchase program, bringing the total to over $7 billion, reflecting confidence in future growth.
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See More
