Tech stocks fall after earnings
The gist
Alphabet shares plunged 12% and Amazon fell as much as 9% after hours on earnings misses.
Investors are questioning whether billions spent on AI will pay off.
How it unfolded
- Oct 23, 2026The Nasdaq fell more than 2 percent, its worst day of the week, as AI stocks slid on worries about the debt needed to build data centers, after mixed results from Tesla and Meta.
- Oct 28, 2026Alphabet reported 25% revenue growth with $127.6 billion in sales, narrowly missing analyst expectations; shares fell as much as 7% after hours. The Federal Reserve left interest rates unchanged.
- Oct 29, 2026Nasdaq futures fell as disappointing Alphabet and Samsung earnings revived doubts over AI spending returns. Alphabet shares plunged 12%, while Fortinet tumbled 25% and ServiceNow dropped 18.2% after results.