Tech stocks tumble Friday, AI shares lead the way

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  A broad sell-off in tech stocks pushed Wall Street lower, with the S&P 500 down 1.1% and the Nasdaq down 2.1%, marking the market's worst week since late June. Chipmakers including Micron, AMD, Broadcom and Intel fell as investors questioned how long the AI spending boom could last, while Netflix dropped 2.9% after a management change. The 10-year Treasury yield eased to 5.09% from 5.10%, after touching its highest level since 2002 earlier this month, and traders put the odds of a Fed rate hike in December at 74.3%. Brent crude jumped 3.7% to $US109.86 a barrel amid the Iran war and Strait of Hormuz supply concerns. The ASX was set to open slightly lower.

  theage.com.au·18/10, 19:30▼ QQQ▼ NVDA▼ AAPL▼ AMZNWall Streettech stocksQQQ
• 'Just another scare': Wall Street sees the AI trade strong despite tech's latest rout

  Technology stocks fell this week as financing concerns mounted, pulling the S&P 500 and Nasdaq into negative territory. CoreWeave (CRWV) and Nebius (NBIS) each closed the week down more than 25%, and Baird's Ted Mortonson placed Oracle (ORCL) near the bottom of tech on free cash flow, citing a higher cost of capital and scrutiny of circular finance. Nvidia CEO Jensen Huang voiced optimism about CoreWeave, in which Nvidia holds roughly a 10% stake. Patrick Moorhead (Moor Insights & Strategy) called the sell-off another scare, while Dan Ives (Wedbush Securities) pointed to CoreWeave's revenue backlog of roughly $104 billion at the end of the second quarter. UBS described the volatility as a recalibration of expectations rather than a fundamental break, urging investors to watch whether AI spending turns into sustainable earnings growth.

  Yahoo Finance·18/10, 15:59▲ NVDAAI investmenttech stocksWall Street
• US markets are weighed down by an extended sell - off in the tech sectortimesleader.com·18/10, 00:00▼ NVDA▼ QQQ▼ AAPL▼ AMZNtech stocksQQQNVDA

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• Live updates: Market jitters persist as the AI selloff deepens

  South Korea's KOSPI fell almost 4%, alongside one of the weakest IPO debuts in the country's history, with data centre company Elice tumbling around 30%. The selloff carried into U.S. pre-market trading, where CoreWeave (CRWV) dropped 4%, Cipher Digital fell 2%, IREN lost 3%, and the Invesco QQQ ETF traded lower. Bitcoin held above $81,000, gold slipped almost 1% to just above $4,110 an ounce, Brent and WTI crude each rose 2%, and the iShares 20+ Year Treasury Bond ETF (TLT) gained 0.5% on defensive flows.

  CoinDesk·20/10, 10:14▼ NVDA▼ QQQ▼ BTC/USDT▼ GOOGLNVDAIPOSouth Korea