Tech stocks extended losses on Friday after disappointing earnings from major Wall Street firms, with concerns over the AI investment boom deepening. AI-linked shares fell sharply after Amazon's quarterly report missed analysts' expectations for profit and revenue, while Intel's forecast fell short of estimates due to weak PC processor demand and supply chain problems. Alphabet, Google's parent, plunged more than 12% and Intel dropped 23%, while the Nasdaq finished down more than 1%. In Asia, SK hynix fell more than 7%, Kioxia shed more than 7%, and Seoul dived more than 3%. Oil rose on fears of escalating US-Iran hostilities, with Brent heading towards $120 a barrel for the first time since April, while Bitcoin fell around 5% to a one-month low of around $76,400 after Binance said it was hit by a hack affecting more than $6 billion in funds.
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Keywords
tech stocksartificial intelligenceearningsAMZNNasdaq
Open a keyword to see other news on the same topic.
Related tickers and likely impact
AMZN
▼ Likely negativeAmazon
Relevance: medium
| Market | US stocks |
|---|---|
| Sector | Consumer Discretionary |
| Industry | Broadline Retail |
| Market cap | $2.7T |
| Close on 10/29/2026 | 244.23 |
| Change that session | -4.07% |
QQQ
▼ Likely negativeInvesco QQQ Trust
Relevance: medium
| Market | US stocks |
|---|---|
| Sector | ETF |
| Close on 10/29/2026 | 715.33 |
| Change that session | -1.42% |
SPY
▼ Likely negativeSPDR S&P 500 ETF
Relevance: low
| Market | US stocks |
|---|---|
| Sector | ETF |
| Close on 10/29/2026 | 769.53 |
| Change that session | -0.36% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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