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TechQuiet 8d · day 13

Nasdaq 100 enters third correction as AI spending doubts mount

Tech stocks plunge on disappointing earnings and investor concerns that massive AI investments won't deliver returns.

newest coverage 8d agosummary written 8d ago12 pieces YouTubeNewswiresGoogle NewsReddit

What to know

  • The Nasdaq 100 entered its third correction of 2026 after major tech firms posted disappointing earnings, with Alphabet down 13%, Intel 29%, and Reddit 29% in a single session.
  • Central question driving the sell-off: whether Big Tech can sustain multibillion-dollar AI spending and generate sufficient returns, with no clear market consensus.
  • Companies reporting weakness across multiple fronts: Alphabet's search revenue cannibalised by its own AI chatbot, Intel's PC business collapsing amid AI chip competition, Reddit losing search traffic to Google's AI summaries, Amazon posting negative free cash flow despite capex commitment.
  • Broader AI infrastructure debate reopened as investors question whether the scale and pace of spending justified earlier valuations and confidence.

Eric Weiner Technology analyst, BloombergDavid Zinsner Chief Financial Officer, IntelSteve HuffmanSteve Huffman CEO, RedditAlphabet Search and advertising giantAmazon E-commerce and cloud computing company

Nasdaq 100 enters third correction as AI spending doubts mount
NY Post

How it unfolded 4 developments, newest first · click a bar or a number to jump articlesvideosposts

Peak 3 pieces in 3h at Oct 30, 2 PM; 12 pieces over 13 days (10 articles · 1 video · 1 post) Oct 29, 11 AM — 1 piece · 1 video — YouTube 1Oct 29, 2 PM — quietOct 29, 5 PM — quietOct 29, 8 PM — quietOct 29, 11 PM — quietOct 30, 2 AM — quietOct 30, 5 AM — quietOct 30, 8 AM — 2 pieces · 2 articles — Google News 1, Newswires 1Oct 30, 11 AM — 1 piece · 1 article — Google News 1Oct 30, 2 PM — 3 pieces · 3 articles — Google News 2, Newswires 1Oct 30, 5 PM — quietOct 30, 8 PM — quietOct 30, 11 PM — 1 piece · 1 article — Google News 1Oct 31, 2 AM — quietOct 31, 5 AM — quietOct 31, 8 AM — quietOct 31, 11 AM — quietOct 31, 2 PM — quietOct 31, 5 PM — quietOct 31, 8 PM — 1 piece · 1 article — Google News 1Oct 31, 11 PM — quietNov 1, 1 AM — quietNov 1, 4 AM — quietNov 1, 7 AM — quietNov 1, 10 AM — quietNov 1, 1 PM — quietNov 1, 4 PM — quietNov 1, 7 PM — quietNov 1, 10 PM — quietNov 2, 1 AM — quietNov 2, 4 AM — quietNov 2, 7 AM — quietNov 2, 10 AM — quietNov 2, 1 PM — 2 pieces · 1 article · 1 post — Reddit 1, Newswires 1Nov 2, 4 PM — 1 piece · 1 article — Newswires 1Nov 2, 7 PM — quietNov 2, 10 PM — quietNov 3, 1 AM — quietNov 3, 4 AM — quietNov 3, 7 AM — quietNov 3, 10 AM — quietNov 3, 1 PM — quietNov 3, 4 PM — quietNov 3, 7 PM — quietNov 3, 10 PM — quietNov 4, 1 AM — quietNov 4, 4 AM — quietNov 4, 7 AM — quietNov 4, 10 AM — quietNov 4, 1 PM — quietNov 4, 4 PM — quietNov 4, 7 PM — quietNov 4, 10 PM — quietNov 5, 1 AM — quietNov 5, 4 AM — quietNov 5, 7 AM — quietNov 5, 10 AM — quietNov 5, 1 PM — quietNov 5, 4 PM — quietNov 5, 7 PM — quietNov 5, 10 PM — quietNov 6, 1 AM — quietNov 6, 4 AM — quietNov 6, 7 AM — quietNov 6, 10 AM — quietNov 6, 1 PM — quietNov 6, 4 PM — quietNov 6, 7 PM — quietNov 6, 10 PM — quietNov 7, 1 AM — quietNov 7, 4 AM — quietNov 7, 7 AM — quietNov 7, 10 AM — quietNov 7, 1 PM — quietNov 7, 4 PM — quietNov 7, 7 PM — quietNov 7, 10 PM — quietNov 8, 1 AM — quietNov 8, 4 AM — quietNov 8, 7 AM — quietNov 8, 10 AM — quietNov 8, 1 PM — quietNov 8, 4 PM — quietNov 8, 7 PM — quietNov 8, 10 PM — quietNov 9, 1 AM — quietNov 9, 4 AM — quietNov 9, 7 AM — quietNov 9, 10 AM — quietNov 9, 1 PM — quietNov 9, 4 PM — quietNov 9, 7 PM — quietNov 9, 10 PM — quietYesterday, 1 AM — quietYesterday, 4 AM — quietYesterday, 7 AM — quietYesterday, 10 AM — quietYesterday, 1 PM — quietYesterday, 4 PM — quietYesterday, 7 PM — quietYesterday, 10 PM — quietToday, 1 AM — quietToday, 4 AM — quiet ◂ 1 earlier2–34
Oct 30Oct 31Nov 1Nov 2Nov 3Nov 4Nov 5Nov 6Nov 7Nov 8Nov 9now · 5:43 AM ET
  1. background

    Tech wreck deepens with third Nasdaq correction of the year — The Nasdaq 100 slid into its third correction in 2026 as the October tech selloff persisted. Market observers questioned whether a bear market would follow, with concerns over AI spending sustainability unresolved.

  2. 4

    Nasdaq 100 officially enters correction as megacap earnings amplify AI fears

    The Nasdaq 100 Index tumbled into correction territory—defined as a 10% decline from recent highs—on Monday as megacap earnings reports deepened investor pessimism about Big Tech and the AI trade.

    “The 'tech wreck' from October continues. Is a bear market next?”
    — Joy Wiltermuth, MarketWatch reporter · source

    1. 1 outlet first by Bloomberg Tech, 8d ago · read ↗

    2. 1 outlet Nasdaq 100 to Enter Third Correction of 2026 as AI Trade Unwinds

      first by Bloomberg Politics, 11d ago

  3. 2 days quiet
  4. 3

    Bloomberg analyst flags two central questions driving the selloff

    Bloomberg's Eric Weiner identified the core market uncertainty: can companies keep spending on AI infrastructure, and what happens if they can't? Weiner noted the market is predicated on sustained spending but investors have no clear answers.

    “Can companies keep spending? And what happens if they can't?”
    — Eric Weiner, Bloomberg
  5. 2

    Amazon, Intel, Reddit post weak results; Nasdaq nears correction

    Amazon reported revenue of $201.9 billion and net income of $20.7 billion—both missing estimates—with negative free cash flow of $42.4 billion, despite AWS cloud revenue jumping 39%. Intel plunged 29% after revealing its PC division revenue fell 5% year-over-year as competition from AI accelerators intensified, with CFO David Zinsner warning 'We see the PC slowdown continuing at least through the first half of next year.' Reddit fell 29% despite beating on earnings after CEO Steve Huffman warned that Google's AI summaries cost the platform an average of more than 1 million search referrals per week in October.

    “We see the PC slowdown continuing at least through the first half of next year…”
    — David Zinsner, Intel CFO
    1. 2 outlets Nasdaq plummets 2% as Amazon, Intel and Reddit become latest victims of AI fears

      first by NY Post, 11d ago · also New York Post

  6. 1

    Alphabet plummets 13% after missing on sales amid AI chatbot cannibalization

    Google parent Alphabet suffered a record single-day market cap loss after reporting disappointing sales. The company revealed that AI chatbot searches are eating into its traditional search engine business, a historically profitable division. Microsoft also retreated after reporting a pullback in AI spending plans.

    “A global rally in technology shares faltered as disappointing earnings from two industry heavyweights revived doubts over whether billions of dollars in artificial-intelligence spending will deliver sufficient returns.”
    — Bloomberg Television, Broadcast anchor · source