The sell-off for tech stocks worsens and overwhelms Wall Street

The Korea Times - Oct 30, 2026

NEW YORK — A sell-off for tech stocks is barreling into Friday and forcing the U.S. market down again, with Intel and Amazon helping to lead the way this time. The S&P 500 fell 1.6 percent and was on track to erase its gain for October, even though it set its all-time high during the month. The weakness for technology stocks dragged the Nasdaq composite down 2.5 percent, as of 11:48 a.m. Eastern time. The Dow Jones Industrial Average fell a more modest 0.7 percent, or 380 points. Intel tumbled 28.6 percent and is flirting with its worst day since 1974, even though the chipmaker reported a stronger profit for the latest quarter than analysts expected. It gave a forecast for profit in the final three months of this year that fell far short of analysts’ expectations. CEO Lip-Bu Tan said the personal-computer industry continues to feel pressure, which hurts demand for Intel’s CPUs. Amazon fell 1.9 percent after reporting a weaker profit for the summer than analysts expected. Potentially more concerning for investors was Amazon’s reporting that it burned through $42.4 billion of cash

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Oct 30, 2026
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Iran tuyên bố ba tàu chở dầu đã phát nổ, bốc cháy khi đi qua tuyến hàng hải không được phép tại eo Hormuz.

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Oct 30, 2026
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Oct 30, 2026
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$60 for a loaf? New York bakery has customers lining up
Oct 30, 2026
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Oct 30, 2026
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Oct 30, 2026
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Oct 30, 2026
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US scraps G20 photo after European diplomats object to being pictured with Russia's Lavrov
Oct 30, 2026
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ATLANTA — The U.S. scrapped plans for a photo of top diplomats of the Group of 20 largest world economies on the opening day of talks Friday as several Europeans objected to being photographed with Russian Foreign Minister Sergey Lavrov and threatened to walk out of the photo session. The cancellation of the photograph, a traditional opening event at such a diplomatic gathering, underscored the deep rifts in the G20 over global crises that threaten international security and trade. U.S. Secretary of State Marco Rubio decided to cancel the photo after determining that the controversy would be a distraction, according to two U.S. officials, who spoke on condition of anonymity due to the sensitivity of the matter. The meeting in Atlanta, which will otherwise go ahead as planned, is meant to set the stage for a G20 leaders’ summit hosted by President Donald Trump at his Miami golf club in December. The cancellation has added to concerns about the poor prospects for the G20 diplomats to reach consensus on many of the most contentious issues they face. Among them are the Russia-Ukraine co

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Oct 30, 2026
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Oct 30, 2026
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Nasdaq faces $2 trillion wipeout in October as AI spending fears deepen
Oct 30, 2026
Nasdaq faces $2 trillion wipeout in October as AI spending fears deepen

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