U.S. Stocks Slide as Amazon, Intel Earnings Spark More AI Selling

A facts-only brief, written by a local AI model from this article in The Wall Street Journal, October 30, 2026. It may contain mistakes, and it is not the article: the full story is at wsj.com.

U.S. equities declined as an artificial intelligence-driven selloff accelerated following underwhelming earnings from Amazon and Intel. The Nasdaq Composite dropped 2.86% to 25,437.00, marking its steepest monthly loss since March 2025, while the S&P 500 fell 1.82% and the Dow Jones Industrial Average slid 1.09%. Intel shares plunged 29% to $65.76 after the chipmaker projected fourth-quarter revenue below analyst expectations due to a prolonged personal computer sales slowdown. Amazon stock decreased 1.4% to $240.35 as its advertising revenue growth decelerated, a trend attributed to consumers increasingly relying on chatbots that lack ad features.

Background

• Treasury yields decreased as investors sought safety, with the two-year note falling to 4.579% and the 10-year note dropping to 4.928%.
• Oil futures rose 2.1% to $104.12 per barrel, the highest New York close since mid-September, driven by supply concerns following a tanker attack in the Strait of Hormuz and renewed Houthi strikes on Saudi infrastructure.
• Bitcoin declined 1.8% to $76,353 amid a major cyber theft at a rival exchange, while gold futures fell 3.3% to $3,885.70 per troy ounce.
• ExxonMobil and Chevron shares increased as their refining units benefited from war-related fuel price spikes, with both companies stating they are working to boost diesel production to address near-record U.S. prices.

Read the full article at wsj.com

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