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Tech stocks plunge as Nasdaq hits worst day since June amid AI growth concerns

Market News
30 Oct 2026, 23:26 WIB
Market Watch
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Bearish
Tech stocks plunge as Nasdaq hits worst day since June amid AI growth concerns

Technology stocks experienced a sharp selloff, with the Nasdaq Composite suffering its worst day since June and its worst month in 18 months. This decline follows disappointing earnings reports from major tech companies, raising fears about a slowdown in the rapid development of artificial intelligence. The tech sector's recent success has heavily relied on AI growth, so this shift could impact market dynamics going forward.

The selloff in tech stocks is shifting into overdrive, with Pluang's market snapshot as of Oct 31, 2026 03:11 WIB showing 27 of 150 priced Technology-sector US stocks rose while 123 fell. Notable movers include AMD at USD 504.79 with a 1-day change of -10.88%, DOCN at USD 89.15 down 10.82%, and FSLY at USD 22.97 down 10.41%. The most notable figure is the 123 stocks that declined today.

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