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Nasdaq Posts Largest One-Day Drop Since June 5 as AI Spending Fears Hit Tech
The Nasdaq Composite fell 2.86% on October 30, 2026, closing at 25,437.00, marking its largest one-day percentage decline since June 5. The trigger was investor skepticism over AI spending, impacting tech stocks and raising concerns about future growth. Intel and Amazon's AI-related capex announcements contributed to the decline, with Intel's shares falling nearly 29% and Amazon's adding to the gloom with a $42.4 billion in free cash flow outflows and $94.8 billion in AI-related capital expenditures.