Nasdaq 100 Futures Plunge 2.4% as Amazon and Intel Earnings Deepen AI Spending Fears

Nasdaq 100 futures tumbled as much as 2.4% in premarket trading on October 30, 2026, as disappointing earnings from Amazon and Intel compounded an already bruising week for Big Tech and intensified investor concerns about the soaring cost of artificial intelligence infrastructure.

Amazon fell roughly 7% in premarket trading after the company missed third-quarter revenue and profit forecasts and signaled further increases in AI capital expenditure, marking a second consecutive quarter of heavy spending commitments that unsettled investors. Intel cratered approximately 25% before the open after the chipmaker issued a weaker-than-expected outlook, citing a still-soft PC market and warning of cash burn for the year. If sustained, the Intel decline would rank as its second-worst single-day drop since 1986, leaving the stock at a 51% drawdown from its highs.

The selloff extended a broader rout in the technology sector already rattled by Alphabet's results earlier in the week, which alone wiped out roughly half a trillion dollars in market value and pushed the S&P 500 Communication Services sector into bear-market territory. European stocks also declined in response to the earnings news. The 10-year Treasury yield hovered near its rising 50-day moving average, with market watchers eyeing a confluence of support in the 4.75% to 4.82% range.