Stock futures slip after Amazon posts results, traders brace for July payrolls report: Live updates

U.S. stock futures slid on Thursday night as traders considered fresh results from Amazon and Intel. Investors also looked ahead to July's payrolls report.

Futures tied to the S&P 500 fell 0.3%. Dow Jones Industrial Average futures lost 98 points, or 0.2%, and Nasdaq 100 futures dropped 0.5%.

In after-hours trading, Intel cratered nearly 20% after announcing weak guidance and layoffs. Amazon slid 7% after missing the Street's estimates on second-quarter revenue and issuing a disappointing forecast. Apple shares inched higher after a top- and bottom-line beat in the fiscal third quarter.

In the regular session, the major averages fell sharping growing fears of a potential recession. The blue-chip Dow dropped nearly 500 points, or 1.2%. The broad market index slid nearly 1.4%, while the tech-heavy Nasdaq Composite tumbled 2.3%.

The sell-off on Thursday indicates that the market is now "wondering if the Fed is too late in transitioning monetary policy," said Quincy Krosby, chief global strategist at LPL Financial.

The recent rally in small-cap stocks may also come under threat as investors become more nervous on the broader economic outlook, added Arnim Holzer, global macro strategist at EAB Investment Group. Indeed, the Russell 2000 lost 3% on Thursday, posting its worst session since February.

"Increased market volatility is justified, with potential tech sector disappointments posing a risk to the overall market," Holzer said.

The three major averages are heading into Friday with weekly losses. The S&P 500 is off 0.2% through Thursday's close, while the Dow is down 0.6%. The Nasdaq is toting a 0.9% decline week to date. Even the small-cap Russell 2000 hasn't been spared from the recent tumult, down about 3.3% in the period and