Tech stock sell-off sends US markets sharply lower after disappointing earnings

Summary

Technology stocks sold off on Friday 30 October 2026 as investors questioned whether the billions being spent on AI would generate returns quickly enough, and disappointing earnings from leading tech companies added to the pressure. The Guardian reported that US markets fell by hundreds of billions of dollars, that the S&P 500 dropped more than 1% and was on track to erase its October gain despite setting an all-time high earlier in the month, and that the tech-heavy Nasdaq fell more than 3%, losing nearly $1tn in one week and about $2tn in a month. CBC reported that the Nasdaq shed just under three per cent, that Canada's S&P/TSX composite index finished down 1.7 per cent, and that Wall Street suffered its worst day since June. The two reports give different figures for the Nasdaq's fall.

Timeline

1. The Guardian

   30 Oct 2026, 18:27 UTCSource ↗

   The Guardian reports that a sell-off in tech stocks, which began earlier this month and gained steam after disappointing earnings from leading tech companies, drove US markets down by hundreds of billions of dollars on Friday, with the Nasdaq losing nearly $1tn in one week and about $2tn in a month.

2. CBC

   30 Oct 2026, 19:06 UTCSource ↗

   CBC reports that the tech-heavy Nasdaq composite shed just under three per cent on Friday, Canada's S&P/TSX composite finished down 1.7 per cent, and Wall Street suffered its worst day since June amid worries over whether AI investment will produce enough profit.