Global markets sell off as AI bets wobble, gold drops below $4,000, and Bitcoin slides after Binance hack

Global markets are experiencing a wave of selling, with tech stocks hit hard, gold falling below $4,000, and Bitcoin dropping after a major cyberattack on Binance. The Nasdaq 100 fell about 3% as disappointing corporate results raised questions about AI investment returns. The Nasdaq 100 lost $1.2 trillion in October. Intel shares dropped up to 29% on weak forecasts, while Amazon fell 6% on missed expectations and negative cash flow. Gold hit $3,946 per ounce, its lowest since November 2025, and Bitcoin fell to $76,400 following the Binance hack. The Binance attack affected about $6.3 billion in assets, with $3 billion blocked. Gold's decline stems from Federal Reserve rate hike expectations, while tech selling reflects concerns over AI costs. Investors are rotating into defensive sectors like consumer goods and healthcare.