The Economic Times10h ago

US midterm elections, earnings and jobs data loom for AI-wary Wall Street

AI Market Summary

Intel's ~29% post-earnings collapse, compounded by disappointing Alphabet and Amazon results, signals that AI capital spending is being repriced sharply. The S&P 500 fell 1.8% and the Nasdaq 2.9% on Friday, dragging semis and AI-linked names. With midterm elections, heavy earnings and jobs data ahead, volatility risk stays elevated and tech leadership remains fragile near term.

Impact level

● High

Affected assets

NCSKINTC2USD/USDT-2.35%

AI Insight · NCSKINTC2USD/USDTAI Insight

▼ Bearish

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Intel shares tumbled nearly 29% after its earnings report. The decline dragged the S&P 500 down 1.8% last Friday. The Nasdaq Composite fell 2.9%.

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