Nasdaq 100 and S&P 500 shed nearly $3.3 trillion as AI spending fears hit tech

Weak guidance from Intel, Amazon's cash burn and Alphabet's slide pushed investors to question whether the AI buildout will pay off The Nasdaq 100 and S&P 500 together lost nearly $3.3 trillion in market value as disappointing earnings and soft guidance set off a broad selloff in US stocks. On October 30, 2026, the Nasdaq Composite fell 3.37% to close at 25,303.37. The S&P 500 slipped 2.08% to 7,559.85 the same day. A rough week for the biggest names in tech The Nasdaq 100, home to the largest non-financial companies on the exchange, was headed for its worst stretch since mid-June. Its losses exceeded 3% as fears about enormous AI-related capital spending deepened. The nearly $3.3 trillion aggregate value loss spread across the month of October. The Nasdaq 100 alone was forecast to post a monthly wipeout of more than $2 trillion, driven largely by concern over AI outlays. Semiconductor makers and hyperscalers, the giant cloud providers that rent computing power to everyone else, led the declines. Intel took the hardest single hit. Its shares dropped approximately 29-30% after the chipmaker guided fourth-quarter revenue to $15-16 billion, below the roughly $17 billion the ma...