US Futures Slide on Inflation Fears as Crypto Stocks Buck the Trend

US stock futures extended losses in premarket trading on August 18, as resurgent inflation fears drove global bond yields to multi-decade highs. Nasdaq-100 futures dropped more than 1% at one point, while S&P 500 futures shed 0.6%. The 30-year US Treasury yield, after hitting its highest level since 2007, continued to climb, and the 10-year yield edged toward the 5% threshold.

On the sector front, cryptocurrency-linked stocks rallied against the broader weakness, with HIVE Digital Tech surging over 14%, Mara up more than 5%, and Bit Digital rising nearly 2%. AI and semiconductor names were mixed—Micron Technology jumped over 4% in a standout performance, while Nvidia edged slightly lower and Super Micro Computer fell nearly 4%. Consumer and social media stocks broadly weakened, with Nike down over 4%, Snap off more than 4%, and Reddit tumbling over 7%.

Crypto Stocks Rally Against the Tide: HIVE Soars Over 14%

As of writing, HIVE Digital Tech (HIVE) surged 14.13% to $3.07; Mara (MARA) climbed 5.60% to $9.72; Bit Digital (BTBT) advanced 1.91% to $1.60; and BitMine Immersion Tech (BMNR) rose 3.60% to $18.73.

The rally was fueled by Bitcoin's sustained rebound, which lifted miners and digital asset-related names across the board. Meanwhile, BofA's latest Global Fund Manager Survey showed that global equity allocations hit their highest in nearly three years, while cash levels sank to historic lows—yet the 'AI bubble' and 'bond market 失控' have emerged as the two dominant tail risks.

Semiconductor Sector Split: Micron Gains Over 4%, Super Micro Drops Nearly 4%

As of writing, Micron Technology (MU) rose 4.13% to $1,011.75; Intel (INTC) added 0.97% to $103.49. Nvidia (NVDA) inched down 0.07% to $225.01; Super Micro Computer (SMCI) fell 3.92% to $38.28.

In related news, Nvidia CEO Jensen Huang's daughter recently visited LG Electronics, with the two sides exploring deeper collaboration in AI infrastructure and robotics. LG had previously announced plans to launch a humanoid robot based on Nvidia's platform by 2027. Separately, prominent market commentator Fu Peng noted in his latest outlook that the AI productivity narrative has entered a 'validation vacuum,' warning that as major tech firms see free cash flow dwindle to zero and capex peaks roll over in the first half of 2026, markets could face a significant shock.

Consumer and Social Media Stocks Broadly Lower: Nike, Snap, Reddit Lead Declines

As of writing, Nike (NKE) dropped 4.03% to $39.09; Snap (SNAP) fell 4.25% to $5.18; Reddit (RDDT) tumbled 7.63% to $164.50; and Rivian Automotive (RIVN) declined 3.19% to $14.87.

Elsewhere, SpaceX (SPCX) gained 4.45% to $146.23 amid market speculation that Elon Musk may push for a merger between SpaceX and Tesla, with prediction markets assigning a 71% probability of a deal closing before 2028. Baidu (BIDU) reported second-quarter revenue of RMB 31.33 billion, missing the consensus estimate of RMB 31.59 billion, while adjusted earnings per ADS of RMB 7.22 also fell short of the expected RMB 9.75. SMIC posted a 261.7% year-on-year surge in Q2 net profit, with revenue topping $3 billion.