Nasdaq futures slide 2% as Amazon and Intel earnings disappoint
Nasdaq futures fell 2% on Friday after disappointing earnings from Amazon and Intel heightened investor caution toward the technology and artificial intelligence sectors. Amazon shares dropped 6% in after-hours trading after missing Wall Street expectations on third-quarter profit and revenue, reporting negative free cash flow of $42.4 billion while maintaining $220 billion in 2026 capital spending plans. Intel shares plunged 21% after issuing a pessimistic current-quarter outlook, signaling a slowdown in the personal computer market. European markets traded mostly lower as France's economy contracted 0.1% in the third quarter, while Asia-Pacific markets were mixed, with a $5.7 billion cryptocurrency theft at Binance also weighing on sentiment. Oil prices rose on supply concerns after Iran-aligned Houthi attacks on Saudi Arabia, and Bitcoin fell below $78,000 amid the Binance security breach worries.