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Nasdaq falls almost 3% as investors rotate out of tech after Amazon, Intel earnings: Live updates

The Nasdaq Composite plummeted nearly 3% as investors fled tech stocks, particularly Amazon and Intel, following their earnings reports. Amazon fell 7% and Intel plunged 25-29% due to concerns over massive AI spending and its returns. The sell-off led to a sharp decline in tech stocks, with the broader market showing resilience.

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⚡ Key Developments & Real-Time Context
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  • ✓ Nasdaq Composite fell almost 3%
  • ✓ Amazon shares fell 7% in premarket trading
  • ✓ Intel shares plunged 25-29% due to weaker-than-expected guidance
  • ✓ Investors are questioning returns on massive AI spending
🛡️ Source Corroboration: 9 independent reporting domains (85% confidence) ⏱ Read time: ~2 min

What changed

Intel's weaker-than-expected guidance and Amazon's negative cash flow have intensified investor concerns about AI spending, leading to a sharp decline in tech stocks.

Live updates

  1. Nasdaq falls almost 3% as tech stocks tumble after Amazon, Intel earnings

    The Nasdaq Composite plummeted nearly 3% as investors fled tech stocks, particularly Amazon and Intel, following their earnings reports. Amazon fell 7% and Intel plunged 25-29% due to concerns over massive AI spending and its returns. The sell-off led to a sharp decline in tech stocks, with the broader market showing resilience.

    Why it matters

    The recent earnings reports from Amazon and Intel have raised concerns about the costs and returns of heavy AI investments. This has led to a significant sell-off in tech stocks, contributing to the Nasdaq's decline. The market is now questioning the profitability of AI spending, especially after Intel issued weaker-than-expected guidance.

    What is confirmed

    • Nasdaq Composite fell almost 3%
    • Amazon shares fell 7% in premarket trading
    • Intel shares plunged 25-29% due to weaker-than-expected guidance
    • Investors are questioning returns on massive AI spending

    Still unconfirmed

    • The AI race is getting very, very expensive

    What to watch next

    • Amazon and Intel's future earnings reports
    • Developments in AI technology and its applications
    • Investor sentiment towards tech stocks and AI investments
    Sources used for this update (11)
    1. CNBC — Nasdaq-100 futures fall as Amazon and Intel swoon after earnings: Live updates
    2. CNBC — Amazon falls 7%, Intel plunges 25% in premarket trading, as pressure mounts after earnings
    3. Yahoo Finance — Stock market today: Dow, S&P 500, Nasdaq futures fall as Amazon, Intel earnings rattle investors
    4. CNN — Wall Street sell-off continues as investors question returns on massive AI spending
    5. The New York Times — Tech Stocks Tumble, but Broader Market Is Holding On
    6. Honolulu Star-Advertiser — Tech stocks tumble as Amazon, Intel fuel AI spending fears
    7. www.businessinsider.com — Stock Market Today: Nasdaq Plunges 3% After Grim Intel ...
    8. www.ibtimes.com — Stocks Plunge Again as AI Trade Unravels. Nasdaq Sees Worst ...
    9. www.kucoin.com — Nasdaq Falls More Than 2% as Investors Sell Off Tech Stocks ...
    10. www.ibtimes.com — Amazon and Intel Plunge After Disappointing Results, Fueling ...
    11. www.ntd.com — Nasdaq Logs Worst Month in More than a Year as Amazon, Intel ...
    confidence 85%
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