Nasdaq hits intraday low as Treasury futures volume surges

The notable signal is where the stress shows up: equity weakness tied to a private-credit and AI-listing narrative is being met with Treasury futures buying, not selling — a flight-to-quality footprint rather than a growth scare spreading into rates. That divergence matters for anyone holding the AI-adjacent complex, since it suggests the market is repricing single-name credit and listing risk, not the broader rate outlook. Whether the Treasury bid holds if equities keep sliding is the open question.