Bearish
S&P 500 declines 0.3% to 7,720.39 amid tech earnings concerns
The S&P 500 fell 0.3% to 7,720.39 on October 29, 2026, driven by significant declines in major technology stocks. Alphabet's shares plummeted 12.6% following weaker-than-expected growth and increased AI investments, while Amazon's stock dropped 6.5% due to negative free cash flow linked to heavy AI spending. These developments have raised investor concerns about the financial sustainability of AI investments in the tech sector.
Key points
- Alphabet's stock plunges 12.6% after reporting weaker-than-expected growth and higher AI-related expenses.
- Amazon's shares decline 6.5% amid negative free cash flow attributed to substantial AI infrastructure investments.
- Despite tech sector declines, small-cap Russell 2000 index gains 1% to 2, indicating mixed market sentiment.
Sources
AI-generated from public news sources. Not financial advice.
