In the US stock market on the 30th, the Dow extended its decline, while the Nasdaq temporarily fell by more than 3.1%. In afternoon trading, the Dow was down about 515 points, while selling in technology stocks weighed on the Nasdaq.
In the US stock market on the 30th, the Dow Jones Industrial Average extended its decline from the opening and was trading at $51,827.53, down $515.03 from the previous day, as of 1:30 p.m. The technology-heavy Nasdaq Composite temporarily fell by more than 3.1%.
Amazon.com reported revenue and earnings per share below market expectations. Although AWS remained solid, sluggish growth in e-commerce and advertising weighed on the stock. Concerns also grew over a widening free-cash-flow deficit accompanying increased AI-related investment.
Among Dow components, Intel plunged, at one point falling more than 30%. Revenue for the July–September 2026 quarter fell short of market expectations, and its outlook for the October–December quarter was also reportedly below expectations. Expectations that a slowdown in the PC market would continue through the first half of next year accelerated selling.
Semiconductor stocks and hyperscalers were sold on concerns over the monetization and sustainability of AI investment, while some healthcare stocks attracted buying. Dow components Merck, Johnson & Johnson and Travelers rose. Goldman Sachs and Alphabet fell, while Chevron attracted buying. The Nasdaq extended its decline to more than 2.6%, reaching its lowest level of the session. The S&P 500 also opened lower.
The article also cited declines in Tesla, Meta Platforms and SpaceX. Overall, funds flowed out of AI-related stocks while defensive stocks attracted buying.