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Stock Market Nasdaq Dives as AI Spending Faces Scrutiny
The Nasdaq Composite fell more than 3% Friday as disappointing earnings and rising AI spending forecasts unsettled investors. The tech-heavy exchange lost nearly $1tn in value in one week and about $2tn over a month. Intel, Amazon and Alphabet shares also slid, while pressure on chipmakers extended beyond the largest technology companies.
Tech Earnings Sink SpaceX Shares as Intel Cuts Outlook
Space Exploration Technologies shares fell 2.9% after Intel’s forecast for the next quarter missed analyst expectations. The guidance also weakened a potential catalyst tied to the companies’ partnership, while a separate reported merger plan with Tesla faces a possible hurdle from Chinese antimonopoly authorities.
Tech stocks wipe $1.5 trillion as AI spending faces scrutiny
A sharp sell-off hit technology shares on Friday as investors questioned whether heavy artificial-intelligence spending will produce returns. The Nasdaq 100 fell 3.4%, while Intel plunged 29% after warning that fourth-quarter sales and profits would be lower than expected. Amazon’s results also added to concerns about rising AI costs and slower growth in its core online shopping business.
Reddit Shares Tumble 29.22% on Weak Revenue Forecast, User Outlook
Reddit shares fell 29.22% on Friday after the company warned that search referral traffic weakened in the third quarter and forecast fourth-quarter revenue below analysts’ estimates. Revenue still rose 53% to $895 million, but the company also said daily user levels fell 2% and may decline further. CEO Steve Huffman said Reddit will test requiring logins in select markets outside the United States.
Tech Stocks Extend Sell-Off as Investors Question AI Spending Returns
U.S. technology shares fell for a second straight day as investors questioned whether companies can earn enough from their growing artificial intelligence investments. Intel shares dropped as much as 30% on Friday, while the Nasdaq slid more than 3.5%. Meta, Alphabet, Oracle, Amazon and Microsoft have committed to spending $800.6bn on AI-related plans in 2026.
Alphabet Stock Crash Leaves Valuation at 2012 Levels
Alphabet shares fell 12.6% on Thursday after earnings, wiping out nearly $500 billion in market value. The sell-off left the company’s price-to-earnings ratio at a level not seen since 2012, as investors weighed weaker-than-expected search sales and negative free cash flow against growth in Google Cloud.
Tech stocks see sharp losses as AI costs unsettle investors
US technology shares fell as investors weighed the cost of expanding artificial intelligence against signs of pressure on revenue and user growth. Intel dropped as much as 30% in early trading after warning of a weaker computer market and higher AI spending. The Nasdaq opened down 2.5%, while Reddit and Roblox also lost ground.
Intel stock plunges nearly 30% as weak outlook rattles investors
Intel shares fell as much as 30% in early trading Friday after the chipmaker forecast fourth-quarter revenue and earnings below Wall Street expectations. The company reported stronger data center revenue in its latest quarter, but expects PC shipments to decline and said an accident at its Israel factory would cut fourth-quarter revenue by about $300 million.
Exxon, Chevron Earnings Get a Lift From Stronger Refining Margins
Higher refining margins helped ExxonMobil beat third-quarter earnings expectations, while results from Chevron offered a second test of how the oil majors ar...
AstraZeneca Targets $1.5 Billion in Annual Savings by 2029
AstraZeneca plans to save $1.5 billion a year by 2029 through a restructuring program aimed primarily at funding drug development. The company also reported third-quarter revenue of $16.21 billion, up 7%, and core earnings per share of $2.79. CEO Pascal Soriot said clinical trial results expected in 2027 could support peak annual sales of more than $20 billion.
Google parent Alphabet suffers $500 billion market-value loss
Alphabet lost approximately $499.8 billion in market value after its shares fell 12.64% following quarterly results that missed Wall Street expectations. Revenue rose 25%, while Google Search growth slowed and spending on AI infrastructure drew investor scrutiny. Google Cloud revenue more than doubled, but the company warned that meeting demand could pressure cloud profit margins.
IBM RSI Overbought: Stock Gains 2.00% (October 29, 2026)
On October 29, 2026: price 258.28 USD, trend uptrend, RSI 72.3, support 220.51, resistance 258.28. technical analysis of ibm stock.
CAT Stock Drops 9.25% on Thursday, RSI Oversold
On October 29, 2026: price 647.39 USD, trend downtrend, RSI 26.4, support 647.39, resistance 863.44. technical analysis of cat stock.
JNJ Testing Key Resistance: Stock Gains 1.53% (October 29, 2026)
On October 29, 2026: price 275.20 USD, trend sideways, RSI 63.1, support 248.61, resistance 275.20. technical analysis of jnj stock.
Testing Key Resistance, Visa Stock Gains 2.48% on Thursday
On October 29, 2026: price 410.54 USD, trend uptrend, RSI 67.6, support 360.66, resistance 414.34. technical analysis of visa stock.
LLY Stock Technicals: Gains 6.63% on Thursday, RSI Overbought
On October 29, 2026: price 1,373.70 USD, trend uptrend, RSI 74.5, support 1,142.85, resistance 1,373.70. technical analysis of lly stock.
NKE Stock Technicals: Gains 3.42% on Thursday, Testing Key Resistance
On October 29, 2026: price 38.42 USD, trend sideways, RSI 60.3, support 33.87, resistance 38.42. technical analysis of nke stock.
ABNB Stock Technicals: Gains 0.24% on Thursday, Momentum Weakens
On October 29, 2026: price 166.45 USD, trend sideways, RSI 47.1, support 160.39, resistance 176.94. technical analysis of abnb stock.
COIN Stock Drops 1.07%, Death Cross Pressure In Focus
On October 29, 2026: price 160.59 USD, trend downtrend, RSI 40.0, support 159.60, resistance 188.22. technical analysis of coin stock.
NVDA Stock Drops 0.80%, Testing Support Level In Focus
On October 29, 2026: price 213.66 USD, trend sideways, RSI 42.7, support 210.96, resistance 239.24. technical analysis of nvda stock.
AMZN Stock Drops 4.25% on Thursday, Golden Cross Formed
On October 29, 2026: price 243.79 USD, trend sideways, RSI 41.3, support 243.79, resistance 262.63. technical analysis of amzn stock.
AAPL Stock Analysis: Gains 1.48%, Testing Key Resistance
On October 29, 2026: price 348.91 USD, trend uptrend, RSI 60.7, support 332.89, resistance 348.91. technical analysis of aapl stock.
GOOGL Stock Drops 12.64%, RSI Oversold In Focus
On October 29, 2026: price 283.82 USD, trend downtrend, RSI 22.6, support 283.82, resistance 353.78. technical analysis of googl stock.
China’s Tech Stocks Enter Bear Market Despite $19 Billion State Support
China's key stock indexes have fallen more than 20% since a June peak, and Beijing's $19 billion rescue of exchange-traded funds has done little to stop the slide. Analysts blame crowded AI trades, weak consumer demand and a lack of stimulus.