Business · Markets · 2 hrs ago
Tech shares and crypto markets fall after weak earnings and Binance hack
Amazon and Intel shares fell after results and forecasts disappointed investors, adding to pressure on technology stocks.
US Nasdaq futures dropped about 2%, as investors also weighed concerns about spending on artificial intelligence.
Binance disclosed a major security breach at the world's largest cryptocurrency exchange, saying an initial investigation pointed to a compromised engineer's laptop.
Estimates of the assets affected differed, at $5.7 billion and $6.3 billion.
Binance and other firms froze billions of dollars in funds linked to the incident, and Binance's co-CEO said the exchange would cover losses.
Bitcoin fell below $78,000 as concerns over the breach unsettled digital-asset markets.
The breach's perpetrators have not been confirmed, and Binance said its investigation is ongoing.
Nasdaq futures fell about 2% on Friday after Amazon and Intel reported results that disappointed investors.
Amazon shares fell 7% in premarket trading, while Intel shares fell 25%, according to CNBC.
Amazon missed expectations for third-quarter revenue and profit and reported negative free cash flow for a second consecutive quarter.
Intel issued weaker-than-expected guidance, citing softness in the personal computer market.
The results added to investor caution about the technology sector and prospects for artificial intelligence.
- Who
- Amazon and Intel, and investors reacting to their results.
- What
- Nasdaq futures fell about 2% after the companies reported disappointing results.
- When
- Friday, October 30, 2026.
- Where
- U.S. markets.
- Why
- Amazon missed expectations for third-quarter revenue and profit, while Intel gave a weaker-than-expected outlook and cited softness in the PC market.
This story does not have two clearly opposing sides.
Amazon and Intel reported results that disappointed investors.
Amazon and Intel shares fell, and Nasdaq futures dropped about 2%.
- Nasdaq futures
- Down about 2%
- Amazon premarket shares
- Down 7%, according to CNBC
- Intel premarket shares
- Down 25%, according to CNBC
- Amazon 2026 capital expenditure forecast
- $220 billion
- Amazon free cash flow
- Negative for a second consecutive quarter