Nasdaq 100 plunges ~$1.3 trillion as Big Tech earnings misses trigger "Bloody Friday" selloff
On Oct 30, 2026, Nasdaq 100 fell 2.5–3.6% intraday, erasing $1–1.5 trillion in US markets. October wipeout approached $1–2 trillion. Triggers included disappointing Big Tech earnings, negative free cash flow from AI capex, weak Intel guidance, rising bond yields, and tech sector rotation.
TLDR
The selloff represents a sharp reversal from months of AI enthusiasm, with investors reassessing whether massive capex spending will deliver timely returns. Reports show 67 of 100 Nasdaq stocks in bear markets from recent highs. The correction reflects broader macro concerns—strong US GDP (~3.4%) coupled with sticky PCE inflation—and central bank pauses. This drives ongoing debate on AI's near-term ROI versus long-term potential and influences broader equity sentiment.
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