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Some of the spookiest charts about the markets

Markets appear to be at a crossroads after weeks of sideways movement, with investors questioning whether the AI boom and broader economic strength can last. Technology companies and hyperscalers now make up more than half of the S&P 500’s value—an even larger share than during the dot-com boom—and U.S. households have never been so heavily invested in stocks. Meanwhile, concerns are growing about AI’s durability, though falling prices could still support higher sales volumes and revenue.

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How major US stock indexes fared Friday 10/30/2026

U.S. stocks fell sharply Friday as concerns that enthusiasm for artificial intelligence had pushed technology valuations too high intensified. The S&P 500 dropped 1.8% to 7,580.07, its worst session since June; the Nasdaq slid 2.9% to 25,437, and the Dow lost 1.1% to 51,770.31. The Russell 2000 declined 1.7% to 2,811.84. Intel plunged nearly 29% after issuing a profit forecast below analysts’ expectations, its steepest one-day loss since 1974. Amazon’s earnings also heightened concerns about the scale of corporate AI spending.

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Alphabet suffers a rough day for the ages

Alphabet shares fell 12.6% on Thursday, wiping out more than $500 billion in market value in one of the company’s worst trading days. The plunge followed lackluster third-quarter results released Wednesday, which raised concerns about the scale of Alphabet’s AI spending and the resilience of its core search advertising business.

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