Nasdaq reaches near three-month low

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By Emma Johnson • Updated Oct 30, 2026 at 17:50

Tech Stock Selloff Deepens on Earnings, Oil Rises: Markets Wrap - Bloomberg.com — Nasdaq reaches near three-month low

Tech stocks were hit hard on Friday, with the Nasdaq falling to a three-month low. Concerns about AI-related spending particular from Amazon and Intel contributed to the sell-off. The decline is expected to wipe out more than $1 trillion in market value as worries about the AI market persist. Despite the tech sector's challenges, other areas of Wall Street were resilient, but the overall impact on the market is considerable.

“Concerns about AI-related spending particular from Amazon and Intel contributed to the sell-off,” — Elena Iversen, contributing analyst at Ellwell Ford Partnership, observed.

Timeline

Oct 28 — Tech stocks were hit hard on Friday, with the Nasdaq falling to a three-month low....

Oct 30 — Despite the tech sector's challenges, other areas of Wall Street were resilient, but the overall impact on the...

Reader Poll: Has this affected your local community? — 64% of Datasgphariini readers said yes.

This story has been closely followed by our readers since Oct 27. The Ellwell Ford Partnership desk continues tracking updates and will publish follow-ups across the region.

What's next: A follow-up briefing is expected by Monday, Nov 2.

ICYMI: Pakistan and Sri Lanka face off in the final

Editor's note: this report was prepared by the Ellwell Ford Partnership desk and last updated 19:08 UTC.

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