Why did US tech stocks like Intel, Alphabet and Amazon fall in late October 2026?

BBC business reporter Samira Hussain said investors are nervous about the vast sums American technology firms are spending on the data centres needed to run artificial intelligence, and whether those investments will pay off quickly enough. Hundreds of billions of dollars came off the value of Intel, Alphabet, Reddit and Amazon as shares fell for a second straight day.

• The Nasdaq, where most technology companies trade, had its biggest monthly fall in more than a year.
• Hussain noted that much of the US economy is being fuelled by AI investment, which is why a bust worries markets.

▸In their words

“many now are starting to worry whether this boom is becoming a bust.” Samira Hussain · at 10:51 — open in the transcript →

Source: our own transcription of the episode. The full conversation is on Global News Podcast (2026-10-31). Read the whole episode summary →

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