Nasdaq 100 cracks 5%, wipes out $2 trillion in October as AI spending fears deepen

The Nasdaq 100 fell 5% in October, wiping out $2 trillion as concerns about AI spending deepened.

Market decline intensifies

The decline marks a sharp setback for the technology-focused index during October. The Nasdaq 100’s losses reached 5%, while the broader value erased during the month amounted to $2 trillion.

AI spending concerns weigh on sentiment

Growing fears over AI spending formed the backdrop to the selloff. The available information does not specify which companies or spending plans were involved, but the concerns were strong enough to coincide with a significant monthly decline in the index.

What happens next

The immediate market implications remain tied to how investors assess AI spending. Further developments will determine whether concerns persist, but the October decline highlights the scale of the market reaction so far.