U.S. technology shares fell sharply as concerns about heavy artificial-intelligence spending and borrowing intensified. The Nasdaq 100 dropped 3.5%, briefly entering correction territory, while the selloff erased $1 trillion in value from Nasdaq 100 companies. Disappointing technology earnings, including results from Intel and Amazon, also weighed on shares.
WHO:
U.S. technology stocks and Nasdaq 100 companies
WHAT:
Technology shares plunged, with the Nasdaq 100 falling 3.5% and briefly crossing into correction territory.
WHEN:
Reported Oct 30, 2026 at 5:13 PM ET
WHERE:
USA
WHY:
Disappointing technology earnings and concerns about the scale of AI-related spending and borrowing weighed on shares.
How this story developed (showing 3 of 3 earlier reports)
