Nasdaq Loses Nearly 1 Trillion Dollars in a Week
The S&P 500, the main index of large US companies, reached an all-time high this month and is set to erase its October gain. On Friday, 30 October, a sell-off of technology stocks deepened after disappointing results from leading tech firms. It has knocked nearly 1 trillion dollars off the Nasdaq, the New York exchange heavy with tech companies, in one week and about 2 trillion in a month.
Intel, the chipmaker, tumbled nearly 30 percent, heading for its worst day since 1974, after giving a profit forecast for the final three months of the year far below analysts' expectations. A day earlier, Alphabet, Google's parent, dropped more than 12 percent, wiping 500 billion dollars from its value, after saying it burned more cash in the summer than in the spring on investment in artificial intelligence. Nvidia, previously worth about 5 trillion dollars, fell 3.1 percent, the heaviest drag on the S&P 500.
The losses were concentrated in technology: on Friday the S&P 500 was roughly evenly split between rising and falling shares. The monthly figure is still a projection, as October was not over; the Nasdaq 100 index was down more than 5.8 percent so far. Open is whether the hundreds of billions spent on artificial intelligence will earn enough profit.
The final October figure for the Nasdaq 100 will be fixed when the month closes. Beyond that, the Guardian names no date: the next test is whether Meta, Alphabet and Amazon, which raised their spending forecasts again, can show returns, and whether high interest rates slow new data centers.
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The text is well sourced and honest about open questions, but it only describes a market sell-off and offers no solution or progress.
The text uses concrete figures, such as Intel's near 30 percent drop and the roughly 1 trillion dollars lost on the Nasdaq in a week. It also says clearly that the monthly figure is only a projection and that it is still unclear whether AI spending will pay off. What is missing is any response, solution or sign of progress, since the piece mainly describes losses. The score would rise if it explained how investors or companies are responding, or put the sell-off in a wider, more balanced context.
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