Report
Wall Street tech selloff reportedly hits Nasdaq amid AI spending concerns
U.S. markets reportedly closed sharply lower on October 30: the S&P 500 fell 1.82%, Nasdaq 2.86% and Dow 1.09%.
TLDR
A market post put QQQ down 3.47% at the October 30 close and described money moving away from expensive technology stocks as energy and selected healthcare names held up. It flagged ongoing concerns about Alphabet's AI spending. A separate weekly macro review said Microsoft's capital spending roughly doubled year over year and Amazon's trailing free cash flow was negative.
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