Dow futures tumble 500 points after hotter-than-expected PPI; tech stocks slide
Feb 27th 2026
A hotter-than-expected producer price index reading for January pushed futures sharply lower and hit AI-linked and big tech stocks, while major layoffs and mixed earnings kept investors cautious.
- January PPI rose 0.5% and core PPI rose 0.8%, both above economist expectations.
- Dow futures fell about 581 points while S&P 500 futures dropped 0.9% and Nasdaq-100 futures fell 1% after the data.
- Nvidia extended a post-earnings slide amid doubts about its OpenAI deal after reports it invested $30 billion in OpenAI's $110 billion funding round.
- Other tech names including Amazon, Microsoft, Salesforce, Zscaler and CoreWeave declined, with Zscaler down about 9% and CoreWeave down about 11%.
- Block announced plans to cut roughly 4,000 jobs, amplifying concerns about AI-driven disruption and weighing on market sentiment.