In brief
U.S. equity markets fell sharply on Friday, driven by weak earnings from major tech firms. The Nasdaq Composite slid over 2%, matched by steep declines in Intel, Amazon and Alphabet shares, as investors weighed the cost and prospects of artificial‑intelligence spending.
In New York, U.S. stocks slumped sharply on Friday, October 30, 2026, after major technology companies released disappointing earnings reports that stoked investor jitters about the artificial‑intelligence investment boom.
The Nasdaq Composite fell more than 2% in early trading, a dip that echoed throughout the market.
Intel Corp. saw its shares plunge, with Xinhua reporting almost a 30% drop and CNBC reporting a 25% plunge in pre‑market trading, stopping after the chipmaker issued a weaker-than‑expected outlook.
Amazon.com Inc. fell 4.4% according to Xinhua, while CNBC reported a 7% slide; the move followed the company’s report of negative free cash flow for the second consecutive quarter, a sign that its AI‑powered initiative may be stalling.
Alphabet Inc. saw its shares tumble more than 12% after a Thursday earnings release that disclosed weaker‑than‑expected revenue growth, bolstering concerns about the broader tech sector’s growth trajectory.
Reuters notes that Nasdaq futures slipped as investors weighed the implications of Amazon’s and Intel’s heightened artificial‑intelligence spending, adding to the sell‑off pressure.
Across the board, the decline reflected mounting worries over the costs and prospects of the AI investment wave, signaling a cautious tone among both institutional and retail investors in the tech market.