{
  "id": 17314975,
  "title": "US: Wall Street closes sharply lower as AI cash burn fears spark tech sell-off",
  "url": "https://urgent.news/2026/10/31/us-wall-street-closes-sharply-lower-as-ai-cash-burn-fears-spark-tech",
  "topic": "ai",
  "section": "AI",
  "published": "2026-10-31T00:14:24.000Z",
  "source": {
    "name": "The Business Times - Companies & Markets",
    "slug": "the-business-times-companies-markets",
    "url": "https://www.businesstimes.com.sg/companies-markets/us-wall-street-closes-sharply-lower-ai-cash-burn-fears-spark-tech-sell"
  },
  "original_language": "en",
  "account": "US stocks experienced a sharp decline on Friday, with the Nasdaq suffering its largest one-day percentage drop since June 5. The decline was driven by disappointing quarterly results from Intel and Amazon, which fueled concerns about AI-related companies' significant investments in the emerging technology. The tech-heavy Nasdaq index dropped 2.9 percent, marking a 7.8 percent decline from its all-time closing high reached just a few days earlier on October 6. Intel's shares plummeted by 28.6 percent, while AMD saw a 10.9 percent drop. Other chip stocks also experienced significant losses, with the broader chips index shedding 7.2 percent, marking a monthly loss of over 15 percent. Server makers Dell and HP also fell, by 10.8 percent and 9.6 percent, respectively. Oliver Pursche, senior vice-president at Wealthspire Advisors, noted that this week has been dominated by discussions about the future of artificial intelligence and its potential return on investment.",
  "summary": "All three main equity indices close lower on the week",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 3,
    "also_reported_by": [
      {
        "outlet": "IOL",
        "title": "Why big Wall Street won’t let AI write its code: Inside finance’s cautious approach",
        "url": "https://urgent.news/2026/10/30/why-big-wall-street-wont-let-ai-write-its-code-inside-finances",
        "published": "2026-10-30T07:58:00.000Z"
      },
      {
        "outlet": "Fortune",
        "title": "An AI slowdown that takes some air out of the exuberance could actually extend the boom, Wall Street veteran says",
        "url": "https://urgent.news/2026/10/30/an-ai-slowdown-that-takes-some-air-out-of-the-exuberance-could",
        "published": "2026-10-30T17:20:41.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}