Economy · New York, United States · United States of America · October 30, 2026

Wall Street has worst day since June on AI cost fears

Reported by 7 outlets · first reported Oct 30, 4:30 PM ET

US stocks fell as tech shares dropped on worries about AI spending. Intel had its worst day since the 1970s. Reddit fell 29%. Alphabet lost about $500 billion in value this week.

Why it matters

Falling tech shares hit retirement savings and may slow AI investment.

Background

Big tech firms are spending close to $1 trillion on AI.

The story so far

1. Oct 30Wall Street has worst day since June on AI cost fears
2. Oct 31Wall Street falls as tech sell-off deepens
3. Nov 5S&P 500 falls 4.4% as AI stocks plunge after midterms
4. Nov 6Global tech stocks fall on fears of AI curbs after US midterms
5. Nov 7Tech stocks slide as midterms raise AI regulation fears

Follow the whole story →

Sources

• South China Morning Post ↗Oct 30, 6:01 PM ET
• BBC News ↗Oct 30, 4:34 PM ET
• CNBC ↗Oct 30, 4:30 PM ET

This summary was written automatically from the reporting linked above; follow the sources for the full story. How One Turn works.

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