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Global tech selloff deepens on AI spending concerns and weak earnings

Hedgeweek, citing a Financial Times report, said global tech stocks extended losses on Friday as disappointing corporate earnings and concerns over AI spending triggered a broad selloff across US, European and Asian markets. The post states Nasdaq futures fell 2% and S&P 500 futures declined 0.9%, while Alphabet plunged 13%, Amazon fell 6.6% in pre-market trading and Intel tumbled 26%.

Why “Unverified”

  • Reported by Hedgeweek alone, with no second source or primary confirmation yet

1 independent source group across 1 post · evidence score 48/100. How labels work

Market around the story

  • AMZN Still being measured. The price reaction is recorded once the market has traded for six hours after the first report.
  • GOOGL Still being measured. The price reaction is recorded once the market has traded for six hours after the first report.
  • INTC Still being measured. The price reaction is recorded once the market has traded for six hours after the first report.
  • NDX Still being measured. The price reaction is recorded once the market has traded for six hours after the first report.
  • SPX Still being measured. The price reaction is recorded once the market has traded for six hours after the first report.

What the sources claim

  1. Global tech stocks extended losses on Friday amid disappointing earnings and AI spending concerns.

    “Global tech stocks extended their losses on Friday”
    Hedgeweek

  2. Nasdaq futures fell 2% ahead of Wall Street's opening. NDX

    “Nasdaq futures fell 2% ahead of Wall Street's opening”
    Hedgeweek

  3. S&P 500 futures declined 0.9%. SPX

    “S&P 500 futures declined 0.9%”
    Hedgeweek

  4. Alphabet plunged 13%, erasing approximately $500bn in market value. GOOGL

    “Alphabet plunged 13%, erasing approximately $500bn in market value”
    Hedgeweek

  5. Amazon shares fell 6.6% in pre-market trading after weaker-than-expected sales. AMZN

    “Amazon reported weaker-than-expected sales, sending its shares down 6.6% in pre-market trading”
    Hedgeweek

  6. Intel tumbled 26% following a disappointing outlook. INTC

    “chipmaker Intel tumbled 26% following a disappointing outlook”
    Hedgeweek

Sources

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Summary and claims extracted by AI with prompt analyze-story@5 on 2026-10-30 10:10 UTC. Labels are computed from the sources, not by the model.