US stocks fell on October 30, 2026, with the Nasdaq Composite losing 2.84% in its biggest one-day percentage decline since June 5. The selloff followed earnings releases from Amazon and Intel as investors scrutinized the costs and potential returns of artificial intelligence investment.

Key Takeaways

  • The Nasdaq fell more sharply in percentage terms than the S&P 500 and the Dow.
  • The S&P 500 and Nasdaq ended October lower, while the Dow retained a monthly gain.

US stocks close lower across major indexes

Technology shares bore the brunt of Friday’s selling, and chip stocks came under pressure. All three major indexes also finished the week lower.

The declines followed Amazon and Intel results released late Thursday. The timing of the reports does not by itself establish what caused the broader market move.

ItemDetails
Nasdaq CompositeClosed at 25,440.68, down 747.73 points or 2.84%.
S&P 500Closed at 7,580.21, down 139.30 points or 1.80%.
Dow Jones Industrial AverageClosed at 51,770.58, down 571.98 points or 1.09%.

AI investment costs draw scrutiny

Oliver Pursche, senior vice president at Wealthspire Advisors, said investors were considering whether AI investment would produce a positive return and how quickly.

In Amazon’s third-quarter results, the company reported a $42.4 billion free cash flow outflow for the trailing 12 months. It attributed the outflow primarily to increased property and equipment purchases, largely reflecting AI investments. Amazon also said it continued to expect approximately $220 billion in cash capital expenditures for 2026; that figure is a forecast, not a completed result.

Earnings season continues

Of the 299 S&P 500 companies that had reported third-quarter results, 82% beat consensus estimates, LSEG data showed. Analysts expected year-over-year earnings growth of 31.6% for the index.

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