{"id":900121,"date":"2026-10-30T17:16:15","date_gmt":"2026-10-30T17:16:15","guid":{"rendered":"https:\/\/www.newsbeep.com\/us\/900121\/"},"modified":"2026-10-30T17:16:15","modified_gmt":"2026-10-30T17:16:15","slug":"stock-market-today-nasdaq-dives-sp-500-and-dow-fall-as-amazon-intel-earnings-fuel-tech-rout","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us\/900121\/","title":{"rendered":"Stock market today: Nasdaq dives, S&P 500 and Dow fall as Amazon, Intel earnings fuel tech rout"},"content":{"rendered":"\n

US stocks sank in the final trading day of the month as earnings from Amazon (AMZN<\/a>) and Alphabet (GOOG<\/a>, GOOGL<\/a>) this week rekindled concerns about the amount of money Big Tech is spending on its AI ambitions. <\/p>\n

The Nasdaq Composite (^IXIC<\/a>) tumbled 2.6% as a tech-fueled sell-off showed no sign of letting up.<\/a> The Dow Jones Industrial Average (^DJI<\/a>) fell 0.7%, while those on the S&P 500 (^GSPC<\/a>) dropped 1.5%. <\/p>\n

51,853.36 -489.20 (-0.93%) <\/p>\n

As of 1:15:10 PM EDT. Market Open. <\/p>\n

^DJI ^GSPC ^IXIC <\/p>\n

Stocks fell for the second day in a row after Amazon<\/a> and Alphabet<\/a> posted rare earnings misses<\/a>. Amazon shares fell 4%, while Alphabet continued to erase market value after its stock suffered its worst day in over 20 years.<\/a> <\/p>\n

Intel (INTC<\/a>) also suffered a brutal reaction<\/a> to its earnings report, dropping 29% in premarket trading after the company’s Q4 outlook came up short.<\/a> <\/p>\n

On Friday, oil majors ExxonMobil (XOM<\/a>) and Chevron (CVX<\/a>) reported that their earnings <\/a>were boosted<\/a>\u00a0as\u00a0refining margins widened<\/a> amid the war in the Middle East. Pharmaceutical company AstraZeneca (AZN<\/a>) also reported an earnings beat<\/a> before the opening bell. <\/p>\n

While earnings remain in focus, oil prices rebounded higher, putting additional pressure on markets. Brent crude futures (BZ=F<\/a>) rose to $113 per barrel, while WTI crude (CL=F<\/a>) reached $104 per barrel. <\/p>\n

Bitcoin (BTC-USD<\/a>) prices tumbled more than 5% as crypto assets were rattled following a $6.3 billion hack on cryptocurrency exchange Binance,<\/a> marking the largest heist of its kind in history. <\/p>\n

LIVE 12 updates<\/p>\n

\"Jared SpaceX has lost more than $400 billion in market value in less than a month <\/p>\n

Analysts spent last week raising their SpaceX (SPCX<\/a>) price targets. Investors spent it selling the stock.<\/p>\n

SpaceX stock fell about 5% Friday, extending a slide that has erased more than $400 billion in market value since its high on Oct. 6, when the company was worth more than $2.3 trillion. It’s now worth less than $2 trillion.<\/p>\n

The slide has wiped out SpaceX’s post-earnings jump. The stock rose about 8% on Oct. 21 after third quarter results beat Wall Street’s forecasts and has since lost more than $250 billion in value.<\/p>\n

Then came the lockup. About 1.3 billion shares became free to sell on Oct. 22, and SpaceX held above $140 in the sessions that followed. On Friday, it broke below that level.<\/p>\n

\"\" SpaceX has broken below the $140 floor that held through its fall slide, putting its summer lows back in view. \u00b7 Yahoo Finance AlphaSpace <\/p>\n

A close below $135 would be SpaceX’s lowest since Aug. 24, and the next floor below that is the summer low near $107. To turn things around, bulls first need to reclaim about $147, which would put SpaceX back above $2 trillion, and then its $150 first-day open.<\/p>\n

Read more.<\/a><\/p>\n

\"David Burger King’s chicken nuggets just got a Whopper-like makeover \u2014 fries are next <\/p>\n

The turnaround at Burger King in the US continues to sizzle, Yahoo Finance’s Brian Sozzi<\/a> reports.<\/p>\n

Burger King’s US comparable sales increased a stunning 8.4% in the third quarter, parent company Restaurant Brands International (QSR<\/a>) said in its third quarter earnings release this week.<\/p>\n

“I think people still look at fast food as a treat, and they want to treat themselves once in a while, and when they want to treat themselves, they don’t want to compromise. They don’t want to say, ‘Well, I’m going to go get the cheap meal. Or the least expensive product, or the lowest-quality product.’ They want to feel like they are treating themselves and they’re being treated well,” Burger King US president Tom Curtis said on Sozzi Unleashed<\/a>.<\/p>\n

Read More:<\/a><\/p>\n

\"Ines Binance CEO on $6.3 billion hack:’We are committed to covering all hacked losses’ <\/p>\n

Binance co-CEO Richard Teng promised exchange users impacted by the record $6.3 billion hack on his exchange that they will be made whole.<\/p>\n

“We are committed to covering all hacked losses through our company funds. Your assets are safe,” said Teng on social media<\/a> on Friday.<\/p>\n

Teng said the hack was not carried out by one person. While the initial investigation indicated the involvement of a compromised laptop, further digging revealed additional points of breach.<\/p>\n

“This was a complex attack,” said Teng. “The attacker also used a self-destruct mechanism that destroyed tooling and tracers.”<\/p>\n

Binance said about $3 billion in assets have been “frozen on-chain so far” with the help of partners like Tether and Circle. Customer withdrawals should resume by Sunday, Binance co-CEO Yi He said<\/a> in a separate social media post.<\/p>\n

The Thursday attack has rattled crypto markets and related stocks. Bitcoin (BTC-USD<\/a>) tumbled 5% to around $76,600.<\/p>\n

Reddit, Pinterest, and Roblox stocks tank after Q3 earnings <\/p>\n

Three digital stocks founded in the aughts \u2014 Reddit (RDDT<\/a>), Roblox (RBLX<\/a>), and Pinterest (PINS<\/a>) \u2014 are all suffering from post-earnings stock drops on Friday morning.<\/p>\n

Reddit stock fell 24%, Roblox is down 16%, and Pinterest has declined 6%,<\/p>\n

Yahoo Finance’s Ines Ferr\u00e9 details what’s behind each move:<\/p>\n

Reddit posted weaker-than-expected daily active users in the third quarter and issued a current-quarter revenue forecast that fell short of Wall Street estimates.<\/p>\n

Wall Street also assessed the discussion platform’s plan to only allow access to forums to logged-in account holders. Reddit said it will start testing login requirements during the fourth quarter across select international markets before rolling out the change worldwide.<\/p>\n

Roblox’s third quarter results beat loss and revenue expectations, but daily active users fell 9% year over year to 138 million.<\/p>\n

Meanwhile, Pinterest reported third quarter revenue of $1.17 billion versus $1.21 billion expected by Wall Street. Adjusted earnings of $0.46 also came in below anticipated estimates of $0.49. Record users did not translate into expected advertising revenue, while European regulatory changes pressured cross-border advertising.<\/p>\n

Read more.<\/a><\/p>\n

\"David US stocks open Friday lower with tech earnings denting AI enthusiasm <\/p>\n

US stocks opened lower Friday as disappointing earnings from Amazon and Intel deepened a tech sell-off and renewed worries about massive spending on artificial intelligence by tech giants.<\/p>\n

The Nasdaq Composite (^IXIC<\/a>) tumbled 2.5% as a tech-fueled sell-off showed no sign of letting up.<\/a> The Dow Jones Industrial Average (^DJI<\/a>) fell 0.3%, while those on the S&P 500 (^GSPC<\/a>) dropped 1.3%.<\/p>\n

51,853.36 -489.20 (-0.93%) <\/p>\n

As of 1:15:10 PM EDT. Market Open. <\/p>\n

^DJI ^GSPC ^IXIC <\/p>\n

\"Brian The ‘Magnificent 7’ stocks are seeing stunning declines <\/p>\n

Call it the Unflattering 7.<\/p>\n

Long known as the Magnificent 7 stocks, shares of Apple (AAPL<\/a>), Microsoft (MSFT<\/a>), Nvidia (NVDA<\/a>), Amazon (AMZN<\/a>), Tesla (TSLA<\/a>), Meta (META<\/a>), and Google (GOOG<\/a>) are acting anything but magnificent, especially compared to their 52-week highs.<\/p>\n

Meta and Alphabet are effectively in bear markets, down more than 20% from their 52-week highs, as the Yahoo Finance AlphaSpace<\/a> graphic shows below. Tesla is off by 19.2%, Amazon by 15.1%, and AI chip darling Nvidia by 12.2%.<\/p>\n

Meta, Alphabet, Amazon, and Tesla have been crushed following their earnings<\/a> reports that showed pressured free cash flow amid aggressive AI spending. Nvidia is down because of the fear that all of these hyperscalers are overspending and will be forced to pull back in 2027.<\/p>\n

Read more.<\/a><\/p>\n

\"David Crypto stocks set to open lower after record-breaking crypto heist <\/p>\n

Bitcoin (BTC-USD<\/a>) prices tumbled to around $77,000 on Thursday night, and crypto-related stocks are set to open lower on Friday after crypto exchange Binance confirmed what industry watchers have identified as the biggest crypto hack in history.<\/a><\/p>\n

“The estimated total impact sits at around $6.3B,” said Binance on X.<\/a> “We have worked with blockchain partners to freeze affected assets, with ~$3 billion frozen on-chain so far.”<\/p>\n

77,104.73 -3,693.77 (-4.57%) <\/p>\n

As of 5:15:20 PM UTC. Market Open. <\/p>\n

Binance said it “will cover all losses” from its Secure Asset Fund<\/a> for users and company reserves.<\/p>\n

Blockchain analysis firms TRM Labs and Elliptic have linked the theft to North Korean hackers<\/p>\n

Shares of Circle (CRCL<\/a>), trading platforms Coinbase (COIN<\/a>) and Robinhood (HOOD<\/a>), and digital-asset Treasury giant Strategy (MSTR<\/a>) are each down more than 6% in Friday’s premarket.<\/p>\n

Read more<\/a>.<\/p>\n

\"Brian Intel and Sandisk have very different views about what’s going on in memory chips <\/p>\n

Intel (INTC<\/a>) stock is getting torched in premarket trading on Friday, falling 26%, after the company warned of sluggish PC sales<\/a> in the current quarter. At the core of that warning is consumer resistance to the higher PC prices stemming from the memory chip shortage.<\/p>\n

Intel CEO Lip-Bu Tan sees more challenging quarters ahead due to memory chip dynamics.<\/p>\n

“Our customers began signaling a PC slowdown based on the memory prices and availability,” Tan said. “Year-to-date system endpoint prices have increased significantly, placing additional pressure on already limited IT budgets. The pace of this PC correction has accelerated over the last two months as our OEM partners are aggressively managing inventory to match the softer sell-through.”<\/p>\n

On the other hand, hop onto the earnings call late Thursday from memory chipmaker Sandisk (SNDK<\/a>), and you would’ve heard that there is no memory chip shortage at all. Or, at the very least, things stand to improve nicely in the months ahead.<\/p>\n

“We think our internal models are every segment in the NAND market,” Sandisk CEO David Goeckeler said. “PCs, smartphones, data center will all show positive growth next year because content per device continues to go up as part of that is mixing to premium.”<\/p>\n

Read more.<\/a><\/p>\n

64.15 -27.93 (-30.33%) <\/p>\n

As of 1:15:23 PM EDT. Market Open. <\/p>\n

INTC SNDK <\/p>\n

Amazon’s AI build-out just pushed its cash burn to a record <\/p>\n

Yahoo Finance’s Jared Blikre writes:<\/p>\n

Wall Street spent the week punishing Big Tech’s biggest AI spenders<\/a>. Amazon (AMZN<\/a>) just posted the deepest cash burn in its history.<\/p>\n

Amazon’s free cash flow<\/a> \u2014 the cash left after paying for data centers, warehouses, and equipment \u2014 was an outflow of more than $42 billion over the 12 months through September, according to its third quarter results<\/a> released Thursday. That’s nearly double the previous record of about $23 billion, set in 2022 after Amazon overbuilt its warehouse network. Three months earlier, the outflow was less than $8 billion.<\/p>\n

\"\" Free cash flow over the past 12 months, billions of US dollars, at each quarter’s end, June 2020 to September 2026 \u00b7 Amazon filings, Yahoo Finance <\/p>\n

One quarter did most of the damage. Amazon spent about $77 billion on property and equipment from July through September, more than double the $35 billion it spent a year earlier. Its operations brought in about $42 billion, leaving a gap of roughly $33 billion over three months, according to Yahoo Finance calculations.<\/p>\n

Read more.<\/a><\/p>\n

Oil rises on signs US could renew strikes on Iran <\/p>\n

Bloomberg reports:<\/p>\n

Oil rose on signs the US may resume military strikes against Iran, risking fresh turbulence in the region that may hurt energy flows.<\/p>\n

West Texas Intermediate gained toward $103 a barrel, after swinging more than $3 in the previous session, while Brent settled near $115. A top commander briefed President Donald Trump on military options on Thursday, the Wall Street Journal reported. The US leader has repeatedly given signals he may restart airstrikes against Tehran after midterm elections next week.<\/p>\n

In Iran, one of the country’s top negotiators, Parliament Speaker Mohammad Bagher Ghalibaf, suggested the Islamic Republic’s positions on ending the war will not be compromised. His remarks followed confirmation from Tehran that officials had received a letter sent by US Vice President JD Vance.<\/p>\n

Global benchmark Brent has rallied by 12% in October, hitting a six-month high, as the conflict has dragged on. The gains this month have come despite a revival of flows from the Middle East, with producers managing to ship cargoes through the Strait of Hormuz even with elevated risks to shipping.<\/p>\n

Read more.<\/a><\/p>\n

Yen gains after BOJ, AI jitters drive Treasury rally, weigh on dollar <\/p>\n

Reuters reports:<\/p>\n

The yen inched higher on Friday after the Bank of Japan held rates steady as expected, while the dollar tracked Treasury yields lower as a fresh wave of selling in AI shares triggered a flight \u200cto safety.<\/p>\n

The BOJ left interest rates on hold at 1.25% in a widely anticipated move, but revised up its inflation forecast and \u200cstressed anew its readiness to continue pushing up borrowing costs to forestall mounting inflation risks.<\/p>\n

Following the decision, the yen strengthened to a high of 157.115 per dollar, erasing most of \u200bits losses for the month and putting it on track to end October broadly flat.<\/p>\n

Read more.<\/a><\/p>\n

Good morning. Here’s what’s happening today. <\/p>\n

Economic data: Employment cost index, third quarter (+0.8% expected, +0.9% prior); MNI Chicago PMI, October (54.6 expected, 58.8 prior)<\/p>\n

Earnings calendar: ExxonMobil (XOM<\/a>), AbbVie (ABBV<\/a>), Chevron (CVX<\/a>), AstraZeneca (AZN<\/a>), BP (BP<\/a>), Sanofi (SNY<\/a>), General Dynamics (GD<\/a>)<\/p>\n

Catch up on some top stories you might have missed overnight:<\/p>\n

Sandisk delivers solid results and an 8-for-1 split<\/a><\/p>\n

Reddit to limit access for logged-out users in strategy shift<\/a><\/p>\n

Amazon stock slides after Q3 earnings miss<\/a><\/p>\n

BOJ keeps rates steady, declares victory in hitting price target<\/a><\/p>\n

Andy Jassy says Prime Video is on track to earn ‘tens of billions of dollars’<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"US stocks sank in the final trading day of the month as earnings from Amazon (AMZN) and Alphabet…\n","protected":false},"author":2,"featured_media":900122,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[27],"tags":[5097,28,122,101,939,2993,2994,32455,2995,932,32456,20112,147,9323,1170,1666,6480,2996,2997,923,19533,3733,32457],"class_list":["post-900121","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-401k","tag-business","tag-business-news","tag-economy","tag-finance","tag-financial-information","tag-investing","tag-investment-tools","tag-investor","tag-market-news","tag-mortgage","tag-mutual-funds","tag-personal-finance","tag-quote","tag-real-estate","tag-retirement","tag-stock","tag-stock-research","tag-stock-valuation","tag-stocks","tag-suze-orman","tag-tax","tag-track-portfolio"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/900121","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/comments?post=900121"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/900121\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media\/900122"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media?parent=900121"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/categories?post=900121"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/tags?post=900121"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}