# Tech sell-off wipes nearly $1tn from Nasdaq in one week after weak earnings

> Original title: Tech sell-off drives US markets down by nearly $1tn after subpar earnings reports

- Source: The Guardian · AI
- Published: 2026-10-30T18:27:51.000Z
- Bad Influence: https://badinfluence.news/items/iycmdycqf0r28lbzccrwal7w4
- Original: https://www.theguardian.com/technology/2026/oct/30/tech-stocks-drop-earnings-report

## Summary

The Nasdaq lost nearly $1tn in value in one week as tech stocks sold off after disappointing earnings from leading tech companies. The S&P 500 fell more than 1% Friday and was on track to erase its October gain, while the Nasdaq composite dropped more than 3%. Intel fell nearly 30% after its profit forecast fell far short of analyst expectations, and Alphabet dropped more than 12% on Thursday after reporting heavier summer cash burn from AI investment.