Tech stocks shed $1 trillion as AI boom fears deepen
The gist
Tech stocks were set to wipe out $1 trillion in value as AI boom fears deepened.
Alphabet's roughly $500 billion loss was its worst day ever.
How it unfolded
- Oct 30, 2026Tech stocks were set to wipe out $1 trillion in value as fears over the AI boom deepened; Amazon fell 7% and Intel plunged 26% after quarterly earnings.
- Oct 30, 2026The Nasdaq sank nearly 3% as Intel and Reddit were the latest tech earnings casualties.
- Oct 30, 2026Alphabet shed about $500 billion in market value, its worst day ever, and the stock dropped another 1% on Friday.