The chip and AI turmoil on Wall Street drags global markets down; oil surges

Global stock markets are falling, led by the technology sector, following disappointing earnings reports from Intel and Amazon. Intel's stock is plunging 25% in pre-market trading, while Amazon is down 4.25%. European markets are mixed; in Asia, the Nikkei and Kospi are declining. Oil prices are surging, and European gas prices have jumped above €100. Bitcoin is plummeting 4% to $77,540 amid a security incident at Binance.

Global stock markets are falling on Friday, October 30, 2026, led by the technology sector, following disappointing earnings reports from tech giants Intel and Amazon. Intel's stock is plunging 25% in pre-market trading on Wall Street, heading for its sharpest daily decline in over two years, after it issued a weak revenue forecast for the current quarter due to weakness in the personal computer market. Amazon's stock is down about 4.25% after its revenue and profits missed analyst expectations, and the company reported negative free cash flow of approximately $42.4 billion. In Europe, trading is mixed: the Stoxx 600 is down 0.3%, the German DAX is losing 0.5%, while the French CAC and the British FTSE are edging up. In Asia, Japan's Nikkei fell 2.1% and South Korea's Kospi plunged 3.5%, while the Hang Seng rose 1.5%. Oil prices are surging: Brent around $113.5 per barrel, WTI at $104. European gas prices have jumped above €100 per megawatt-hour, the highest level since late 2022. Bitcoin is plummeting 4% to $77,540 amid a security incident at the Binance exchange.