Technology
Nasdaq faces $2 trillion wipeout in October as AI spending fears deepen
By Sofia Cheung
Nasdaq tumbles at open as Amazon, Intel add to AI spending woes
Lila Johnson
Lila Johnson
Reporter · Fargo, ND
Lila Johnson is a seasoned business reporter with a background in finance, having graduated from the University of North Dakota. She has previously worked with local business journals and focuses on small business success stories and entrepreneurial initiatives.
More from Lila →Reporter · Friday, October 30, 2026 at 1:36 PM · 1 min read
Oct 30 (Reuters) The Nasdaq opened at its lowest level in more than two months on Friday, after Amazon s aggressive AI spending plan and Intel s cash burn warning intensified investor concerns about escalating costs of AI infrastructure buildout and the return timeline. The Dow Jones Industrial Average rose 41.3 points, or 0.08%, to 52,383.9 at the open. The S P 500 fell 89.3 points, or 1.16%, to 7,631.07, while the Nasdaq Composite dropped 592.2 points, or 2.26%, to 25,592.486. (Reporting by Purvi Agarwal in Bengaluru; Editing by Shilpi Majumdar)
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