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US stock market sell-off reportedly driven by Intel and Amazon earnings misses, raising AI spending concerns
The Nasdaq Composite fell 2-3% on October 30, while the S&P 500 declined 1.6-2% and the Dow fell 0.7-1.3%.
TLDR
One market observer linked the tech sell-off to disappointing Intel and Amazon earnings and worries about AI spending. Intel fell about 30% in a day, another observer noted. Semiconductors fell 7.2% on the day but were down just 0.84% for the week, according to a separate market comment.
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