Nasdaq posts its largest one-day drop since June 5 as AI spending fears hit tech

Intel's historic plunge and Amazon's massive AI capex bill sent the Nasdaq Composite down 2.86% on October 30 The Nasdaq Composite fell 2.86% on October 30, 2026, closing at 25,437.00. That was the index’s largest one-day percentage decline since June 5. The trigger was a familiar one this earnings season: worry about how much Big Tech is spending on artificial intelligence, and when any of it pays off. Intel did most of the damage. Its shares fell nearly 29% after the chipmaker issued disappointing fourth-quarter guidance tied to AI and PC market dynamics.

Source: Crypto Briefing