A trader works at the New York Stock Exchange on Oct. 21, 2026.

NYSE

U.S. equity futures slid Thursday, weighed by declines in mega-cap names Meta Platforms and Tesla along with a jump in oil prices as geopolitical tensions rise.

Dow Jones Industrial Average futures lost 319 points, or 0.6%. S&P 500 futures fell 1%, and Nasdaq-100 futures dropped 1.6%.

Tesla shares dropped more than 3%, while Meta Platforms slipped about 1%. The declines came even after the former's third-quarter results beat estimate, while the latter exceeded revenue expectations.

JPMorgan traders noted that Wednesday's bullish "tone reversed overnight" because Meta shares rolled over in the premarket and chatter increased "over renewed Iran kinetic-risk post US mid-term election."

Additionally, "underlying price actions and feedback from our trading desk also suggested the still fragile narrative around AI financing concerns and the lack of conviction/re-grossing from the recent tech reversal," they said in a note to clients.

Oil…