Big tech earnings misses from firms like Amazon, Intel, and Alphabet triggered broad stock declines and pushed Nasdaq 100 contracts down 1.5%. Investors seeking safety sparked a rally in government debt, sending two-year U.S. Treasury yields falling as much as 10 basis points. In commodities, crude oil climbed higher due to brewing geopolitical tensions regarding potential U.S. military strikes against Iran. Digital assets simultaneously struggled after Binance initiated asset freezes in response to a suspected multibillion-dollar security breach.
Key points
Disillusionment with artificial intelligence profitability is actively unwinding heavy gl…: Disillusionment with artificial intelligence profitability is actively unwinding heavy global equity market valuations.
Resilient market breadth indicates investors are reallocating capital into broader market…: Resilient market breadth indicates investors are reallocating capital into broader market sectors rather than completely abandoning equities.
Mounting geopolitical risks and cryptocurrency security vulnerabilities are reinforcing b…: Mounting geopolitical risks and cryptocurrency security vulnerabilities are reinforcing broader safe-haven demand across global bond markets.
Sources checked by our analysis pipeline: 1
The Kospi Index in South Korea — a key barometer of the AI trade — fell over 3% with chip heavyweights Samsung Electronics Co. and SK Hynix Inc. declining. That dragged the MSCI Asia Pacific Index down 0.3%.
Futures for the Nasdaq 100 Index fell 1.5% and those for the S&P 500 lost 0.6%, indicating equities will remain under pressure. Wall Street gauges had retreated on Thursday, with Alphabet Inc. posting a record drop after its earnings underwhelmed.
Read more: Bulls return as Fed rate pause, dip in US yields lift sentiment
Adding to the gloom on the region’s final trading day of the month, Amazon.com Inc. slumped 7.3% in extended trading as spending soared while growth in its online business slowed. Intel Corp. plunged 23% after hours after its revenue forecast missed estimates, hurt by sputtering demand for PC processors and supply-chain problems.
“The broader message is that investors want more than AI promises,” said Greg Boland, a market strategist at broker Moomoo. “With technology valuations stretched, the market is demanding clearer evidence that heavy investment will deliver profits…
Wall Street exchange giant Intercontinental Exchange is linking traditional financial infrastructure with decentralized derivatives trading to introduce compliant perpetual contracts domestically. By backing and collaborating with an active platform operator, the firm aims to capture rising demand for crypto-native market structures under domestic oversight. The move marks a key bridge between established market operators and offshore decentralized trading ecosystems.
Technical market scans revealed a notable shift in momentum for several prominent equities at the close of trading on October 29, 2026. This metric is closely followed by market participants to confirm the sustainability of broader upward trends across daily timeframes. Such technical achievements within a benchmark index often signal sustained underlying strength for the underlying shares.
Disappointing financial guidance paired with an operational shutdown at an Israeli factory sparked a sharp after-hours selloff for the legacy chipmaker. This downturn immediately spilled over into the wider semiconductor sector, deepening an existing correction driven by tightening financing conditions. Investors reacted swiftly despite analysts clarifying that these specific inventory headwinds stem from the personal computer market rather than artificial intelligence hardware.