Stock Market Today: Tech Selloff Pushes Nasdaq Toward Its Worst Month Since March 2025
U.S. stocks fell on October 30, with the Nasdaq down 3% due to weak results from Amazon and Intel, raising concerns about AI spending. Intel shares dropped 30% on a weak outlook, while Amazon fell 2% after missing earnings estimates. Binance reported a $6.3B security breach, impacting crypto markets. Oil prices rose due to supply risks, and economic data showed slower momentum.
How this was made
The 30-second read
Why it matters
The immediate impact is a sharp decline in the Nasdaq and related tech stocks, with Intel and Amazon leading the downside.
Market read
Tech‑heavy Nasdaq down >3% as investors reassess AI spending; Intel and Amazon drive the move.
What to watch
Potential upside from Amazon's cloud business and Intel's long‑term AI chip roadmap could mitigate short‑term pain.
Background
The article recaps a broad tech sell‑off driven by disappointing earnings from Intel and Amazon, with additional commentary on crypto and oil markets.
Ticker impact
Intel shares plunged about 30% intraday after warning of cash burn and weak PC demand, driving a steep one‑day decline.
likely pressure as the market prices in the cash‑burn guidance and weak demand.
30% drop and a bleak outlook are fresh, material news; traders can act on the downside today.
Amazon reported Q3 earnings of $1.89 EPS on $201.94 B revenue, missing estimates and showing $42.4 B negative free cash flow, sending the stock down ~2% intraday.
likely pressure as investors digest the earnings miss and cash‑flow concerns.
First‑report earnings numbers and cash‑flow shortfall provide a concrete, time‑sensitive trading signal.
Market effects
Technology sector faces heightened scrutiny on AI‑related spending and cash‑flow sustainability.
U.S. markets led the decline, dragging broader indices lower.
The sell‑off adds to global risk‑off sentiment amid mixed macro data.
Counterpoint
Some investors may view the dip as a buying opportunity if AI spending rebounds later.
Key entities
- companyIntel Corporation
Chipmaker reporting a 30% intraday drop and cash‑burn guidance.
- companyAmazon.com Inc.
E‑commerce giant missing Q3 earnings expectations and showing large negative free cash flow.
