Live News: Binance hack rattles crypto as Intel plunges and AI spending fears hit tech

A $6.3 billion hack of Binance has contributed to jitters within the cryptocurrency market, according to CoinDesk. Simultaneously, the QQQ fell more than 2% due to mounting concerns regarding AI spending and weak earnings outlooks.

European shares declined on Friday as a series of technology earnings reports drove investors toward safer assets, according to Investing.com. The pan-European STOXX 600 fell 0.25%, while Germany’s DAX dropped 0.4% and France’s CAC 40 fell 0.1%. In contrast, London’s FTSE 100 gained 0.3%. Investing.com reports that Alphabet reported a revenue miss and negative free cash flow, while Amazon reported third-quarter capital expenditure of $77.3 billion, which is more than double the previous year.

Additionally, Intel forecast fourth-quarter revenue below analyst expectations, citing a slowdown in the PC market.

The technology rout extended to Europe, where ASML, ASM International, BE Semiconductor, and Infineon each fell by more than 4%, Investing.com reported. ECB President Christine Lagarde noted on Thursday that long-dated borrowing costs are rising globally, partly because hyperscalers are issuing more long-term bonds.

Brief written by urgent.news from CoinDesk, Investing.com — 2 reports on this story. Machine-written — may contain errors; check the original before relying on it.