Dow, S&P 500, Nasdaq futures tip lower with Wall Street set to end roller coaster week

US stock futures tipped mostly lower late Thursday as Wall Street was set to end its latest turbulent week in what is shaping up to be a rocky month.

Futures tied to the tech-heavy Nasdaq (NQ=F) fell 0.2%, while those on the S&P 500 (ES=F) were off by 0.1%. Futures tied to Dow Jones Industrial Average (YM=F) hovered around the flatline.

The S&P 500 (^GSPC) is tracking toward its worst November since 2008 amid mounting concerns over an AI-fueled “bubble” that not even Nvidia (NVDA) and its CEO, Jensen Huang, could allay after its blowout earnings reveal on Wednesday.

Stocks closed sharply lower on Thursday in a remarkable turnabout, with Nvidia alone swinging from gains of as much as 5% to finishing more than 2% lower. Other chip and megacap tech stocks followed suit, as the broader tech-heavy Nasdaq Composite (^IXIC) erased gains of as much as 2.5% to close down nearly 2%. Both the S&P and Nasdaq sit at their lowest levels since September.

Cryptocurrencies also continue to feel the heat. Bitcoin (BTC-USD) dipped Thursday to below $87,000, deepening a slide from record-high levels just more than a month ago.

Read more: Live coverage of corporate earnings

Also sparking investor whiplash Thursday was the long-delayed release of September’s jobs report. The release initially portended optimism, with hiring far surpassing meager expectations. But the unemployment rate rose to its highest rate in nearly four years. And ultimately, the report didn’t do much to change the narrative of a deeply divided Federal Reserve, with most bets on a rate hold at its meeting next month.

Stocks are headed for steep weekly losses, with the S&P 500 tracking toward a decline of over 2%, while the Nasdaq is positioned for an over 3% plunge. So far this month, the benchmark index is down around 4%, while the tech-heavy index is off over 6%.

On Friday, investors will get a final read of November consumer confidence from the University of Michigan, after the preliminary reading found the measure near a three-year low. Several Fed officials are also set to speak, perhaps offering further clarity on the central bank’s rate path in December — and beyond.