Nasdaq futures fall more than 2% as Amazon and Intel tumble after earnings: Live updates
Nasdaq futures dropped more than 2% in premarket trading as disappointing financial results from Amazon and Intel triggered a sharp sell-off across Wall Street. Amazon shares fell 7% and Intel plunged 25% following earnings reports that highlighted the heavy costs of artificial intelligence infrastructure investments, negative cash flow at Amazon, and ongoing weakness in Intel's personal computer business. The downturn deepened an ongoing market correction driven by investor anxiety over the financial returns on massive AI spending.
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- ✓ Nasdaq futures fell more than 2% after Amazon and Intel released disappointing earnings.
- ✓ Amazon shares fell 7% in premarket trading.
- ✓ Intel plunged 25% in premarket trading.
What changed
Nasdaq-100 futures fell over 2% following premarket drops of 7% for Amazon and 25% for Intel.
Live updates
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Nasdaq Futures Slide as Amazon and Intel Slump on Earnings
Nasdaq futures dropped more than 2% in premarket trading as disappointing financial results from Amazon and Intel triggered a sharp sell-off across Wall Street. Amazon shares fell 7% and Intel plunged 25% following earnings reports that highlighted the heavy costs of artificial intelligence infrastructure investments, negative cash flow at Amazon, and ongoing weakness in Intel's personal computer business. The downturn deepened an ongoing market correction driven by investor anxiety over the financial returns on massive AI spending.
Why it matters
The steep declines in major technology stocks extended a broader Wall Street sell-off on the final trading day of October. Investors are increasingly questioning whether heavy capital expenditures on artificial intelligence infrastructure will yield profitable returns in the near term. Compounding the market uncertainty, a reported $6.3 billion cyberattack on cryptocurrency exchange Binance added pressure to global financial assets.
What is confirmed
- Nasdaq futures fell more than 2% after Amazon and Intel released disappointing earnings.
- Amazon shares fell 7% in premarket trading.
- Intel plunged 25% in premarket trading.
Still unconfirmed
- A reported $6.3 billion cyberattack occurred on cryptocurrency exchange Binance.
What to watch next
- Market performance on the final trading day of October
- Further corporate earnings and statements regarding artificial intelligence infrastructure spending
confidence 100%Sources used for this update (17)
- finance.yahoo.com — Yahoo Finance - Stock Market Live, Quotes, Business & Finance...
- en.wikipedia.org — Nasdaq - Wikipedia
- finance.yahoo.com — NASDAQ Composite (^IXIC) Charts, Data & News - Yahoo Finance
- markets.businessinsider.com — NASDAQ 100 INDEX TODAY | NDX LIVE TICKER | NASDAQ 100 QUOTE &...
- www.tradingview.com — Nasdaq 100 Index Chart — NDX Quote — TradingView
- stockmarketwatch.com — NASDAQ Today | Stock Market Watch
- CNBC — Nasdaq-100 futures fall as Amazon and Intel swoon after earnings: Live updates
- Bloomberg.com — Asia Stocks Under Pressure, Haven Bid Boosts Bonds: Markets Wrap
- CNBC — Amazon falls 7%, Intel plunges 25% in premarket trading, as pressure mounts after earnings
- Fast Company — Tech stocks down: Intel, Reddit, and Amazon are getting hammered. Has the AI reckoning arrived?
- CNN — Wall Street sell-off continues as investors question returns on massive AI spending
- finance.yahoo.com — Nasdaq Futures Slide 2.2% as Amazon and Intel Earnings Fuel ...
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