S&P, Nasdaq futures regain some ground after tech rout

"The narrative on Monday was that the eye-watering sums spent on AI capex by mega-cap tech companies could be somewhat obsolete if a cheaper solution exists," analysts at BCA Research said in a note. Power companies, which are expected to see a surge in demand from energy-intensive data centers needed to develop AI technology, were broadly higher after tumbling a day earlier. The tech-heavy Nasdaq dropped more than 3% on Monday, its worst single-day showing in more than a month, while the benchmark S&P 500 fell close to 1.5%.