Tech stocks extended their losses after disappointing earnings from major Wall Street firms deepened concerns about the AI investment boom. Alphabet plunged more than 12 percent and Amazon more than seven percent in after-hours trade, while Intel cratered 23 percent on weak demand for PC processors and supply-chain problems; the Nasdaq finished down more than one percent. In Asia, SK hynix dived almost nine percent and Samsung lost more than six percent, while Kioxia and Advantest each shed more than nine percent and SoftBank skidded around seven percent. Floodlines Research's Anna Wu said the concern is not that AI demand has already slowed, but that higher funding costs and credit risk could eventually force hyperscalers to slow their build-out. Regional markets also fell, with Seoul down more than five percent, Taipei more than three percent and Tokyo more than two percent, after SK hynix had reported operating profit soaring 632 percent and Anthropic a first-half revenue surge of about 1,300 percent in its IPO filing.
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earningsartificial intelligencetech stocksMSFTMETA
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Related tickers and likely impact
AMZN
▼ Likely negativeAmazon
Relevance: high
| 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% |
GOOGL
▼ Likely negativeAlphabet Inc. (Class A)
Relevance: medium
| Market | US stocks |
|---|---|
| Sector | Communication Services |
| Industry | Interactive Media & Services |
| Market cap | $4.0T |
| Close on 10/29/2026 | 283.75 |
| Change that session | -12.66% |
META
▼ Likely negativeMeta Platforms
Relevance: medium
| Market | US stocks |
|---|---|
| Sector | Communication Services |
| Industry | Interactive Media & Services |
| Market cap | $1.7T |
| Close on 10/29/2026 | 624.54 |
| Change that session | +1.97% |
MSFT
▼ Likely negativeMicrosoft
Relevance: medium
| Market | US stocks |
|---|---|
| Sector | Information Technology |
| Industry | Systems Software |
| Market cap | $3.9T |
| Close on 10/29/2026 | 530.43 |
| Change that session | -0.11% |
NVDA
▼ Likely negativeNvidia
Relevance: medium
| Market | US stocks |
|---|---|
| Sector | Information Technology |
| Industry | Semiconductors |
| Market cap | $5.1T |
| Close on 10/29/2026 | 213.72 |
| Change that session | -0.77% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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