US tech stocks plunge as AI valuation fears hit Wall Street

Briefing by News4U · First published 2026-10-31 06:21:20 UTC

RTHK Finance reported that US tech stocks fell sharply on Friday as investors worried that AI-driven valuations had become excessive. The S&P 500 dropped 140.32 points, or 1.8 percent, to 7,580.07, its worst day since June. The Nasdaq composite fell 747.72 points, or 2.9 percent, to 25,437.00, and the Dow Jones Industrial Average dropped 572.25 points, or 1.1 percent, to 51,770.31. Intel sank almost 29 percent after its profit forecast missed expectations, while Amazon’s results raised concerns about AI spending. Treasury yields declined as investors sought safer assets. [1]

Sources

1. US markets hit by big tech sell-off

   RTHK Finance · 2026-10-31 00:59:12 UTC · Summary only

Link to this briefing · Back to news