Tech rout wipes $1 trillion from Wall Street as AI spending fears grip markets
Subpar Big Tech earnings and mounting doubts about the payoff from massive AI capital spending drove the Nasdaq to its worst month in over a year and erased rou
Fortune · +14 outlets
FBI blames North Korea for record $6.3 billion Binance crypto theft
The largest crypto hack ever has hit Binance customer confidence and drawn in Washington and Elon Musk, even as bitcoin held up better than expected and the exc
Investing · +13 outlets
Intel stock has worst day since the 1970s, wiping about $12 billion off the US government stake
Intel's post-earnings collapse made it October's worst S&P 500 performer and cut deeply into the government's equity holding taken under its 2025 rescue deal.
CNBC · +14 outlets
Fed officials say more rate hikes will be needed, Logan calls for at least two
Dallas Fed President Lorie Logan and other policymakers signaled additional tightening as markets reassessed rate expectations alongside the tech selloff.
Reuters · +14 outlets
US federal debt surpasses 100% of GDP for first time since World War II
Federal debt exceeding the size of the economy for fiscal 2026 raises fiscal sustainability questions days before the midterm elections.
The Hill · +14 outlets
OpenAI pares fundraising target, now seeking up to $20 billion
The reduced target comes as investors grow more cautious about AI spending and valuations.
CNBC · +5 outlets
Alphabet's October wipeout reaches $758 billion, its worst month ever
Google-parent Alphabet's steep decline led the mega-cap retreat in an October that punished AI-heavy names.
Yahoo Finance · +4 outlets
Fitch cuts France's outlook to negative on worsening debt dynamics
The unscheduled outlook downgrade adds pressure on France's budget plans and its borrowing costs.
Yahoo Finance · +3 outlets
S&P cuts Meta's credit outlook to negative on capex and cash flow concerns
S&P Global Ratings flagged Meta's heavy AI-related capital expenditures and weakening free cash flow.
CNBC · +13 outlets
Microsoft offers buyouts to about 60,000 employees to contain costs
The sweeping buyout offer signals a future with fewer workers and more AI equipment.
Fortune · +13 outlets
Trump's defamation suit against Murdoch and WSJ over Epstein letter dismissed with prejudice
A judge ended the president's attempts to sue over the 2025 Wall Street Journal article on the Epstein birthday letter.
CNBC · +14 outlets
OPEC+ set to hold December oil output steady
The producer group agreed in principle to keep December targets unchanged as supply concerns build.
Investing · +14 outlets
Oil giants post surging refining profits as pump prices climb
Big Oil's refining earnings have surged since Trump criticized the industry, and average US pump prices during his term now exceed Biden's.
CNBC · +14 outlets
Gold plunges below $3,900 to a one-year low as oil climbs
Higher oil prices tied to Middle East supply fears and a broad risk-asset selloff weighed on precious metals.
Kitco · +4 outlets
Wall Street takes a bigger role in financing America's AI build-out
Debt and private credit are increasingly funding AI data centers, and Goldman warns AI layoffs may leave lasting labor-market scars.
WSJ · +13 outlets
Tankers keep crude flowing through Strait of Hormuz despite Iranian attacks
Shipping traffic persists through the key chokepoint as Middle East and Russia-Ukraine tensions lift oil prices.
Investing · +14 outlets
Reddit shares plunge 30% after Q3 search traffic falls sharply
The drop reflects Reddit's heavy dependence on Google referral traffic and its push toward a logged-in-only experience.
Deadline
Chevron tops Q3 expectations but warns downtime may cut Q4 output by 225,000 boepd
Higher downstream profit drove the beat, while planned maintenance clouds fourth-quarter production.
Reuters