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Tech stocks plunge nearly 3% amid rising concerns over AI impact and credit market stress.

02 Nov 2026, 16:28 WIB
Seeking Alpha
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Bearish
Tech stocks plunge nearly 3% amid rising concerns over AI impact and credit market stress.

Technology stocks fell sharply, with the NASDAQ dropping nearly 3%, driven by worries over accelerating negative free cash flow at major AI-focused companies like Alphabet and Amazon. Despite some firms like ServiceNow and Intel beating expectations, their shares declined due to skepticism about future growth. Credit markets are showing signs of stress that could lead to further volatility and risk aversion in equities. This highlights growing investor caution around the AI ecosystem and broader market risks.

Following last week's AI sector selloff, major AI-related stocks on Pluang show mixed moves as of Nov 02, 2026 21:41 WIB. Alphabet (GOOGL) trades up 2.18% at USD 285.93, while Amazon (AMZN) gains 4.04% to USD 250.06. ServiceNow (NOW) also rises 2.04% to USD 107.28, contrasting with Intel (INTC), which falls 1.35% to USD 64.87. These figures highlight ongoing volatility and investor caution in AI and tech stocks.

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