AI-related stocks broadly decline in premarket trading; Tesla, Lam Research, and IBM earnings fail to impress.

Tesla, Lam Research, and IBM reported earnings that failed to satisfy the market, and chipmakers and other AI-related stocks fell in premarket trading, dragging down U.S. stock index futures. The negative sentiment also spilled over into other growth sectors and pushed cryptocurrency-related stocks lower. After a deadly attack in Saudi Arabia, oil prices rose, further weighing on market sentiment, with Brent crude climbing above $112 a barrel.