🚨 PANIC ON WALL STREET! NASDAQ PLUNGES 3.3%, DOW LOSES MORE THAN 500 POINTS, AND THE AI BOOM COMES UNDER SCRUTINY
Friday, October 30, is being marked by a major wave of selling in U.S. markets. The technology sector is leading the downturn as investors begin to question whether the billions of dollars invested in artificial intelligence will actually deliver the expected returns.
📉 The scale of the turmoil on Wall Street
Major indexes posted significant losses during the trading session:
* Nasdaq Composite: fell by as much as 3.3%.
* S&P 500: declined by approximately 2%.
* Dow Jones: fell about 1%, equivalent to more than 500 points.
The move marks an intensification of the sell-off in technology stocks, which had already been putting pressure on the market in the previous session.
💥 Tech giants under pressure
Corporate results have reignited concerns:
* Intel ($INTCB ): at one point fell nearly 30% in premarket trading after issuing disappointing fourth-quarter guidance.
* Reddit (RDDT): declined by approximately 28%.
* Alphabet ($GOOGLB ): fell about 12% for the week following an extremely negative reaction to its results.
* Amazon ($AMZNB ): shares came under pressure amid concerns about investments in artificial intelligence and cash generation.
The central question is becoming increasingly clear: is the market willing to fund the AI race indefinitely, or has it started demanding concrete financial results?
🌡️ Fear and volatility rise
The VIX volatility index climbed approximately 17%, while CNN’s Fear & Greed Index reached 27 points, nearing the extreme fear zone.
🛢️ Oil and cryptocurrencies also caught up in the turmoil
* Brent: approximately US$113 per barrel.
* WTI: approximately US$104 per barrel.
* Bitcoin: fell more than 5% amid turmoil in the crypto market and news of the US$6.3 billion cyberattack involving Binance.
Friday, October 30, is being marked by a major wave of selling in U.S. markets. The technology sector is leading the downturn as investors begin to question whether the billions of dollars invested in artificial intelligence will actually deliver the expected returns.
📉 The scale of the turmoil on Wall Street
Major indexes posted significant losses during the trading session:
* Nasdaq Composite: fell by as much as 3.3%.
* S&P 500: declined by approximately 2%.
* Dow Jones: fell about 1%, equivalent to more than 500 points.
The move marks an intensification of the sell-off in technology stocks, which had already been putting pressure on the market in the previous session.
💥 Tech giants under pressure
Corporate results have reignited concerns:
* Intel ($INTCB ): at one point fell nearly 30% in premarket trading after issuing disappointing fourth-quarter guidance.
* Reddit (RDDT): declined by approximately 28%.
* Alphabet ($GOOGLB ): fell about 12% for the week following an extremely negative reaction to its results.
* Amazon ($AMZNB ): shares came under pressure amid concerns about investments in artificial intelligence and cash generation.
The central question is becoming increasingly clear: is the market willing to fund the AI race indefinitely, or has it started demanding concrete financial results?
🌡️ Fear and volatility rise
The VIX volatility index climbed approximately 17%, while CNN’s Fear & Greed Index reached 27 points, nearing the extreme fear zone.
🛢️ Oil and cryptocurrencies also caught up in the turmoil
* Brent: approximately US$113 per barrel.
* WTI: approximately US$104 per barrel.
* Bitcoin: fell more than 5% amid turmoil in the crypto market and news of the US$6.3 billion cyberattack involving Binance.
