"U.S. Downgrade Sparks Sell-Off: Stock Futures Remain Steady"

Stock futures were relatively unchanged after Fitch Ratings downgraded the United States' long-term rating, leading to a sell-off in the market. Futures tied to the S&P 500 and Nasdaq 100 fell slightly, while Dow Jones Industrial Average futures climbed. In after-hours trading, chipmaker Qualcomm's shares slipped after missing revenue expectations, while DoorDash saw a rise in shares after beating revenue expectations. The tech-heavy Nasdaq Composite experienced its worst day since February, with tech stocks tumbling due to a spike in bond yields. Investors are now focusing on earnings reports from Apple and Amazon. European markets opened lower, and China's service sector activity expanded for the seventh consecutive month. Australia's trade surplus in July was higher than expected, while Hong Kong's business activity contracted for the first time in 2023. Kakao Corporation's net profit slumped in the second quarter, and bullish sentiment in the market is becoming a growing concern, according to the Investors Intelligence survey.