aceTech sell-off drives US markets down by nearly $1tn after subpar earnings reports
A sell-off of tech stocks that began earlier this month and gained steam with disappointing earnings from leading tech companies drove US markets down by hundreds of billions of dollars Friday. In total, the decline has knocked nearly $1tn in value off the tech-heavy Nasdaq exchange in one week and erased about $2tn in a month. The S&P 500, the index of the 500 most valuable companies in the US, fell by more than 1% Friday, losing hundreds of billions of dollars in market value. It was on track to erase its…
Investor doubts about whether huge AI spending will yield profits quickly enough helped drive about $2tn off the Nasdaq 100 in October and sharp single-day drops at Alphabet and Intel.
The article attributes the decline to several factors, including earnings misses, spending forecasts and interest rate concerns, so the share due to AI investment doubts is not isolated.
Evidence
- JournalismThe Guardian2026-10-30
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Truvace Impact Record TRV-2026-2334, v1: “Tech sell-off drives US markets down by nearly $1tn after subpar earnings reports.” Truvace, 2026-11-02. /record/TRV-2026-2334 (accessed at citation time). sha256 79b80032fc65f66a…
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