Wall Street posts worst day since June as AI cash-burn fears spark tech selloff
Disappointing third-quarter results from Amazon and Intel and worries about massive AI capital spending drove a broad rotation out of technology stocks.
Reuters · +15 outlets
Nasdaq faces roughly $2 trillion October wipeout as AI spending fears deepen
Continued selling left the Nasdaq on a third straight weekly decline and its worst month in over a year, with defensive sectors outperforming.
Reuters · +14 outlets
Binance loses $6.3 billion in record crypto heist; FBI joins hunt, bitcoin holds above $77,000
The largest crypto theft in history prompted exchanges to tighten security and raised custody and wallet-safety questions.
Investing · +8 outlets
Intel stock plunges about 29%, its worst day since 1974, wiping $12 billion off US stake
The collapse followed weak results and underscored investor anxiety over whether heavy AI and chip spending will pay off.
CNBC · +14 outlets
Yes, Alphabet Stock Got Hammered. No, We’re Not Selling.
Seekingalpha · +8 outlets
OpenAI cuts funding target by $10 billion amid tech rout
The reported reduction reflects a more cautious financing environment as investors sour on unprofitable AI spending.
Seekingalpha · +8 outlets
Federal debt surpasses 100% of GDP for fiscal 2026, first time since World War II
The milestone reflects widening deficits and adds to long-term concerns about US fiscal sustainability.
The Hill · +14 outlets
Nvidia CEO Jensen Huang seen as target of suspected Chinese spy plot, report says
The disclosure raises questions about export-control enforcement and the cloud blind spots in US efforts to block China from advanced chips.
WSJ · +13 outlets
Nasdaq falls over 3% as Amazon earnings and AI spending concerns sink stock
Amazon reported negative free cash flow and held its capital expenditure guidance, unnerving investors about the cost of AI.
Barron's · +14 outlets
Meta outlook cut to negative by S&P on AI spending and free cash flow concerns
Hefty capital expenditures and weaker free cash flow drove the ratings revision during a bruising week for Big Tech.
CNBC · +14 outlets
Oil prices jump to six-month highs as Middle East and Ukraine war fuel supply fears
Escalating Iranian attacks and Russian refinery strikes tightened fuel supplies, lifting crude and prompting warnings of more pain.
WSJ · +14 outlets
Reddit shares plunge 30% after Q3 search traffic falls 'meaningfully'
The drop highlighted the platform's dependence on Google referral traffic as AI search changes reshape the web.
Deadline · +14 outlets
Big Tech returns smallest share of cash to shareholders in 15 years amid AI spending
Surging data-center investment is consuming cash that once funded buybacks and dividends, unsettling Wall Street.
Reuters · +3 outlets
Anthropic's path to Nasdaq IPO gets bumpier as AI spending worries hit tech
This week's hyperscaler projections punished tech stocks and pushed the Nasdaq to its first three-week losing streak since March.
CNBC · +2 outlets
Nvidia's Megaspeed ties show blind spots in US effort to block China from advanced chips
Experts say existing US export controls largely miss cloud access, leaving gaps in chip-restriction enforcement.
MarketWatch · +4 outlets
Chevron and Exxon hit all-time highs as refining profits soar on Iran and Ukraine wars
Global diesel prices surged after Ukraine and Iran struck refineries in Russia and the Middle East, boosting downstream earnings.
CNBC · +13 outlets
Gold plunges to one-year low below $3,900 despite renewed Iran jitters
The tech rout and higher oil prices drove the safe-haven metal lower in a counterintuitive move that puzzled traders.
MarketWatch
Apple overtakes Nvidia to reclaim top global market-cap spot
Tech weakness and a broad risk-asset selloff reshuffled the ranks of the world's most valuable companies.
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