US Stock Market Move | Nasdaq futures plunge 1.3%; most star tech stocks fall in premarket trading.

On Thursday, the three major U.S. stock index futures all fell, with Nasdaq futures plunging 1.3%. Most star tech stocks declined in premarket trading. NVIDIA Corporation (NVDA.US) fell nearly 9%, Micron Technology, Inc. (MU.US) dropped over 4%, Intel Corporation (INTC.US) fell more than 3%, while SpaceX (SPCX.US), Tesla, Inc. (TSLA.US), and Meta (META.US) each declined over 1%. On the news front, Jensen Huang resigned as President, Chief Executive Officer, and board member of NVIDIA Corporation, effective immediately; Executive Vice President and Chief Financial Officer Colette Kress was appointed interim Chief Executive Officer. The crisis at NVIDIA Corporation has stalled the tech stock rebound. In addition, Federal Reserve officials have recently issued a series of hawkish signals, further strengthening market expectations for rate hikes. Federal Reserve Governor Christopher Waller said on Tuesday that if the U.S. core Consumer Price Index (CPI) rose 0.3% or more month-over-month in October, then a 50-basis-point rate hike should be considered for next month; otherwise, he would support a 25-basis-point hike. Data released on Tuesday showed that U.S. October CPI rose 0.4% month-over-month, with core CPI rising 0.3% for the third consecutive month. Waller was previously regarded as a dovish official within the Federal Reserve, but his recent policy signals have clearly shifted toward hawkishness.