Overview
- The Nasdaq Composite fell 2.86% on October 30, closing at 25,437.00 and leaving the index about 7.8% below its October 6 record high.
- Intel’s shares plunged roughly 28–29% after the company issued disappointing fourth‑quarter guidance tied to AI demand and weak PC sales.
- Amazon disclosed very large AI-related capital expenditures and reported a negative trailing 12‑month free cash flow, raising concern about near‑term cash drain from data‑center buildouts.
- Chipmakers and hardware suppliers were hit hard with AMD down about 11%, Nvidia off about 4%, and the semiconductor index falling roughly 7.2%, while Dell and HP also posted double‑digit declines.
- Reports that hackers stole roughly $6.3 billion from Binance intensified risk aversion and pressured crypto‑linked stocks as investors now focus on firms’ free‑cash‑flow paths and capex plans in upcoming earnings.