Nasdaq tumbles at open as Amazon, Intel add to AI spending woes
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A trader works on the floor at the New York Stock Exchange (NYSE) in New York City, US, October 28, 2026. REUTERS/Jeenah Moon
Oct 30 (Reuters) - The Nasdaq opened at its lowest level in more than two months on Friday, after Amazon's aggressive AI spending plan and Intel's cash burn warning intensified investor concerns about escalating costs of AI infrastructure buildout and the return timeline.
The Dow Jones Industrial Average rose 41.3 points, or 0.08%, to 52,383.9 at the open. The S&P 500 fell 89.3 points, or 1.16%, to 7,631.07, while the Nasdaq Composite dropped 592.2 points, or 2.26%, to 25,592.486.
(Reporting by Purvi Agarwal in Bengaluru; Editing by Shilpi Majumdar)
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