Earnings stoke AI fears and send tech stocks tumbling

Technology stocks faced significant declines on October 30, following disappointing earnings from major companies like Amazon and Intel, raising concerns about AI investments. The Nasdaq dropped nearly 3%, while the Dow and S&P 500 also fell. Despite plans for substantial capital investments in AI infrastructure, investor impatience is growing. Other tech firms linked to AI, such as Nvidia and Micron, also experienced losses. Meanwhile, oil prices rose due to supply concerns, benefiting ExxonMobil, which reported a substantial profit increase. Attention is shifting towards the upcoming US midterm elections and their potential implications.