Nasdaq 100 futures slip 0.3% in Asia-Pacific trading; Tesla falls 2.8% after hours

The dispersion inside the tech complex is the story here, not the modest index futures move: Tesla's capex cut is being read as a signal on capital discipline and demand visibility, while Meta's gain shows the market is still rewarding some mega-cap names. A capex reduction from a bellwether like Tesla matters because it feeds directly into the semiconductor and hardware supply chain, which is why the chip names across the board are softer. Whether the weakness stays concentrated in capex-exposed names or broadens into the wider index is the open question.