Nasdaq Futures Slip as Overnight Chip Weakness Holds
U.S. EQUITIES · OVERNIGHT PRICE DISCOVERY
Nasdaq futures slip as overnight chip weakness holds
Updated August 24, 2026, 01:02:26 EDT (UTC−4)
20:00–04:00 EDT
Overnight tape
Observed 01:02:26 EDT
| Name | Last | Session | Volume |
|---|---|---|---|
| BABA | $114.79 | −2.30% | 890,929 |
| NBIS | $214.00 | −3.78% | 99,508 |
| MRVL | $232.00 | −2.88% | 99,577 |
| AAOI | $111.47 | −0.19% | 193,981 |
| TSLA | $364.77 | −0.06% | 196,077 |
| MRNA | $146.52 | −0.33% | 285,876 |
Broad-market check
Futures at 00:00 EDT
What changed in the latest hour
00:03–01:02 EDT
The latest verified futures snapshot put Nasdaq-100 contracts down 0.30%, versus a muted evening open. S&P 500 and Dow futures were only fractionally lower.
All first 12 names on the venue’s most-active leaderboard were lower at 01:02 EDT. This is a venue sample, not consolidated breadth.
Micron, Sandisk and SK hynix held the top three overnight notionals, down 1.40%, 3.53% and 3.64%, respectively.
Latest completed cash session
Friday Aug. 21 close
| S&P 500 | 7,674.37 | +0.43% | Week −1.4% |
| Nasdaq | 26,180.45 | +0.43% | Week −2.1% |
| Dow | 53,277.01 | +0.98% | Week −0.8% |
| Russell 2000 | 3,017.87 | +0.85% | Week −1.6% |
| VIX | 15.13 | −5.50% | Close |
Friday produced a broad relief rally, but the Nasdaq carried the deepest weekly loss. The overnight decline is concentrated in the same duration-sensitive chip complex.
Cross-asset pressure points
Latest verified observations
High long-end yields remain the valuation ceiling, while easing oil offers only partial relief. Alibaba’s equity-funded AI buildout adds a capital-cost warning before Nvidia’s spending and demand signal.
Next catalysts
All times EDT (UTC−4)
Cash-market open
Validate overnight chip weakness with volume, breadth and SMH/QQQ relative strength.
GDP + July PCE
Simultaneous growth and inflation test from BEA.
Nvidia results / call
The week’s largest single-stock index catalyst.
Jackson Hole
Policy messaging as yields remain near two-decade highs.
Cash-market breadth rejects thin overnight weakness, oil stays lower and chip losses stabilize before Nvidia.
Nasdaq futures confirm the memory-led decline and Alibaba’s dilution shock broadens into a valuation reset for capital-intensive AI equities.
Nasdaq futures at −0.30%; MU/SNDK/SKHY gaps; BABA versus $114.79 overnight; Nvidia versus its $214.72 Friday close; SMH/QQQ breadth.
Alibaba Dilution Joins Memory Selloff in Overnight Trade
U.S. EQUITIES · OVERNIGHT PRICE DISCOVERY
Alibaba dilution joins the overnight chip selloff
Updated August 24, 2026, 00:03:17 EDT (UTC−4)
20:00–04:00 EDT
Overnight tape
Observed 00:03:17 EDT
| Name | Last | Session | Volume |
|---|---|---|---|
| BABA | $114.79 | −2.30% | 890,929 |
| NBIS | $214.00 | −3.78% | 99,508 |
| MRVL | $232.00 | −2.88% | 99,577 |
| AAOI | $111.47 | −0.19% | 193,981 |
| TSLA | $364.77 | −0.06% | 196,077 |
| MRNA | $146.52 | −0.33% | 285,876 |
Broad-market check
Futures at 20:19 EDT
What changed in the latest hour
23:00–00:03 EDT
Alibaba raised HK$80B ($10.21B) for AI spending. Its Hong Kong shares fell as much as 10%; the U.S. ADR ranked fourth by overnight notional, down 2.30%.
All first 12 names on the venue’s most-active leaderboard were lower at the latest observation. This is a venue sample, not consolidated breadth.
Micron, Sandisk and SK hynix held the top three overnight notionals, down 1.40%, 3.53% and 3.64%, respectively.
Latest completed cash session
Friday Aug. 21 close
| S&P 500 | 7,674.37 | +0.43% | Week −1.4% |
| Nasdaq | 26,180.45 | +0.43% | Week −2.1% |
| Dow | 53,277.01 | +0.98% | Week −0.8% |
| Russell 2000 | 3,017.87 | +0.85% | Week −1.6% |
| VIX | 15.13 | −5.50% | Close |
Friday produced a broad relief rally, but the Nasdaq carried the deepest weekly loss. The overnight decline is concentrated in the same duration-sensitive chip complex.
Cross-asset pressure points
Latest verified observations
High long-end yields remain the valuation ceiling. Alibaba’s equity-funded AI buildout adds a visible capital-cost warning as the market waits for Nvidia’s spending and demand signal.
Next catalysts
All times EDT (UTC−4)
Cash-market open
Validate overnight chip weakness with volume, breadth and SMH/QQQ relative strength.
GDP + July PCE
Simultaneous growth and inflation test from BEA.
Nvidia results / call
The week’s largest single-stock index catalyst.
Jackson Hole
Policy messaging as yields remain near two-decade highs.
Cash-market breadth rejects the thin overnight weakness, Alibaba absorbs the placement and chip losses stabilize before Nvidia.
Alibaba’s dilution shock joins memory weakness and broadens into a valuation reset for capital-intensive AI equities.
BABA versus the Hong Kong placement reaction; MU/SNDK/SKHY gaps; Nvidia versus $214.72 Friday close; SMH/QQQ breadth.
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