Nasdaq posts biggest daily drop in 19 months as tech shares slide
The Nasdaq fell 2.86% on October 30, 2026, to 25,437.00.
The short version
- Intel, the chipmaker, dropped 29% on weak forecasts.
- Amazon, the online retail giant, reported $94.8 billion in spending.
- Check your retirement account and index funds today.
- Big tech drops drag down broad indexes.
The Nasdaq Composite fell 2.86% on October 30, 2026, closing at 25,437.00 in its largest one-day percentage decline since June 5. According to Crypto Briefing, the trigger was worry about how much money major technology companies are spending on artificial intelligence without immediate payoffs.
Intel, the giant chipmaker, did most of the damage as its shares fell nearly 29% after the company issued disappointing fourth-quarter guidance. Amazon, the online retail and cloud computing giant, added to the gloom by disclosing $94.8 billion in capital expenditures directed primarily at artificial intelligence infrastructure.
The pain spread quickly across the semiconductor industry. AMD, the semiconductor company, dropped 10.9%. Nvidia, the chip designer, fell 4.2%.
The broader market did not escape either as the S&P 500 lost 1.82%, while the Dow Jones Industrial Average gave up 1.09%. The selloff capped several weeks of choppy trading in technology stocks, leaving the Nasdaq down 7.8% from its record high set on October 6, 2026.
Alphabet, which owns Google, recently posted its worst day on record with a 12.6% drop, while Meta, which owns Facebook and WhatsApp, reported negative free cash flow. Investors are demanding tangible evidence of profitability before rewarding further spending on expensive infrastructure. Check your retirement account and index funds today.
