Dow futures slipped lower Friday as the selloff in tech stocks continues. Online retailer has outlined a massive surge in capital expenditure spending, while auto giant has announced a strategic shift away from electric vehicles. has continued to fall and crude markets await the result of talks between the U.S. and Iran.

Amazon became the latest of tech giants to report its quarterly results after the close on market Thursday, and joined its peers in announcing a massive increase in spending to build out its artificial-intelligence infrastructure. CEO Andy Jassy stated that Amazon would be pumping $200 billion into boosting its AI efforts in 2026, a surge of more than 50% in capital expenditures this year. This move didn’t resonate well with investors as the company’s share price moved sharply lower in after-hours trading. Amazon’s results are the latest sign that Big Tech will not be hitting the brakes any time soon on hefty AI investments, with the top four hyperscalers – Amazon, Microsoft, Google and Meta – expected to collectively spend more than $630 billion this year. Looking at its quarterly numbers, Amazon missed profit expectations by a cent, earning $1.95 per share on revenue of $213.39 billion (up 13.6% Y/Y) for Q4 2025. That said, Amazon Web Services’s revenue grew to $35.6 billion in the December quarter, with its fourth-quarter sales growth of 24% the biggest in 13 quarters. Although a smaller unit for Amazon, contributing just 15% to 20% of overall sales, Amazon Web Services generates over 60% of the company’s operating profit. “Amazon delivered a slightly mixed picture with strong overall revenue growth and a standout boost from the cloud unit’s much anticipated reacceleration picking up greater speed,” Sky Canaves said.

Dow futures slipped lower Friday, extending recent declines as a selloff in Amazon shares added to the rout in technology stocks. At 03:35, the futures traded 11 points, or 0.2%, lower futures dropped 95 points, or 0.4%, and Dow futures fell 30 points, or 0.1%. The main indices closed sharply lower Thursday, with the tech-heavy dropping 1.6%, the broad-based S&P 500 falling 1.2% and the blue-chip sleeping over 500 points, or 1.2%. The Nasdaq is on track for its worst week since early April, falling around 4% so far, while the S&P 500 has slid roughly 2%. The DJIA is roughly flat this week. There are more earnings scheduled for Friday, including the likes of Under Armour, Biogen, AutoNation and Philip Morris. The official , originally scheduled for later this session, is set to be released next week due to the now-resolved federal government shutdown. A survey released on Thursday, showed layoffs announced by U.S. employers surged in January to the highest level for the month in 17 years.

Stellantis announced Friday it was taking a charge of around €22 billion ($26.5 billion) linked to a revaluation of its electric-vehicle development plans, resulting in a preliminary loss of between €19-21 billion in the second half of 2025. The automaker said most of the write-downs stem from changes to its product roadmap, reflecting sharply lower assumptions for EV sales. “The charges announced today largely reflect the cost of over-estimating the pace of the energy transition that distanced us from many car buyers’ real-world needs, means and desires,” said Antonio Filosa in a statement. Franco-Italian automaker, whose models include the Jeep, said the move amounts to a “strategic shift”, as it adjusts to high costs and muted electric-vehicle sales. Stellantis, along with Volkswagen, Europe’s largest carmakers, have called for subsidies to keep carmaking in the EU as they struggle with challenges from U.S. tariffs to Chinese competition.

Bitcoin slumped further on Friday, with the world’s largest cryptocurrency on target for a chunky weekly loss as investor confidence surrounding the digital asset continued to falter. Bitcoin fell over 9% to $64,730.0, after earlier slumping to a 16-month low of $60,100.0. Bitcoin was headed for a third straight week of losses and was trading down over 20% for the week. It has also wiped out more than 50% from the record high hit in October, and has erased all gains made since President Donald Trump’s election victory in late 2024. The digital currency has been battered by a broader exodus out of risky, speculative assets in recent weeks, with losses intensifying after Trump nominated Kevin Warsh as his pick for the next chairman of the Federal Reserve. Warsh has been opposed to the Fed’s asset buying programs in the past, and a leaner balance sheet at the central bank would tighten monetary policy and pressure speculative assets such as crypto. Adding to the sector’s woes, top corporate holder reported a substantially wider fourth-quarter loss on Thursday, pressured chiefly by declines in the value of its Bitcoin holdings.

Oil prices rose Friday, but were still heading for their first weekly drop in nearly two months, as investors focused on the outcome of U.S.-Iran talks due later in the day. Futures gained 1.3% to $68.38 a barrel, and U.S. West Texas Intermediate crude futures rose 1.4% to $64.19 a barrel. Still, Brent was set to end the week 3.3% down and WTI headed for a weekly fall of 1.8% with U.S. and Iranian officials set to meet in Oman later in the session amid heightened military tensions in the Middle East. Markets are hoping that talks between Tehran and Washington will help deescalate some tensions and prevent a broader war – a notion that saw traders take some risk premium out of crude this week. But the U.S. and Iran were seen disagreeing over the subject of Friday’s talks, with Iran rejecting U.S. calls to discuss its missile arsenal and stating that the discussions will only be limited to discussing Tehran’s nuclear ambitions. Iran is a major producer of oil, and is located next to the Strait of Hormuz – one of the world’s most important shipping channels for crude.