Wall Street tumbles to its worst day since June after the sell-off for tech stocks deepens
- On Friday, October 30, 2026, U.S. stocks tumbled as heavy losses in major tech companies triggered the worst market performance since June, with the Nasdaq composite falling 3.4% and the S&P 500 dropping 1.8%.
- Market sentiment shifted from optimistic 'hopes and dreams' to a skeptical 'show me' phase regarding returns on billions in artificial intelligence spending, driving mounting investor skepticism about the sustainability of massive capital expenditures.
- Intel shares plummeted 30.1% for their worst daily performance since 1974, while Amazon reported negative free cash flow of $42.4 billion over the prior 12 months, fueling investor concerns about AI-related spending sustainability.
- Investors sought safety in government bonds, driving the 10-year Treasury yield down to 4.89% from 4.98% late Thursday, while capital rotated into defensive sectors like consumer staples and energy amid tech portfolio pressure.
- Analysts remain divided on whether massive data center buildouts will generate sufficient profit; Matt Maley, chief strategist at Miller Tabak + Co, said AI returns are being 'pushed even further down the road.
142 Articles
142 Articles
The latest quarterly figures from Amazon and Intel exacerbate the alarm mood on Wall Street. Especially the chip manufacturer pulls the entire tech division into the minus with a price drop of 30 percent. The US interim elections make investors more nervous.
New York, 30 Oct (EFE).- Wall Street closed this Friday in red and the Nasdaq index scored its worst month in more than a year, dragged by massive sales in the technology sector in the face of the latest quarterly results and doubts about the sustainability of artificial intelligence (AI). At the bell’s touch, [...] The Wall Street entrance closes in red and the Nasdaq scores its worst month in more than a year was first published in HolaNews.
After a series of quarterly results below the expected of technology companies to have revived the fears regarding the artificial intelligence (AI) thesis, the American exchanges closed in a sharp fall and the Nasdaq index had the worst day since June. Investors also reverberated more conservative statements of Federal Reserve (Fed) leaders, days after the American central bank kept interest unchanged. The Dow Jones index closed in a fall of 1.0…
Coverage Details
Bias Distribution
- 44% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
