{
  "id": 17323400,
  "title": "Tech sell-off and Binance hack rattle investors",
  "url": "https://urgent.news/2026/10/30/tech-sell-off-and-binance-hack-rattle-investors",
  "topic": "tech",
  "section": "Tech",
  "published": "2026-10-30T19:02:00.000Z",
  "source": {
    "name": "Bangkok Post Business",
    "slug": "bangkok-post-business",
    "url": "https://www.bangkokpost.com/business/general/3345786/tech-selloff-and-binance-hack-rattle-investors"
  },
  "original_language": "en",
  "account": "Investors faced a turbulent week as stock markets declined and bonds surged, fueled by pessimism surrounding massive AI investments. The Binance platform suffered a significant theft of $6.3 billion, further alarming market sentiment. The SET index fluctuated between 1,511.58 and 1,586.61 points throughout the week, ultimately closing at 1,518.59, marking a 2.69% decrease from the prior week. Daily trading volume averaged 69.93 billion baht.\n\nThe US economy demonstrated robust growth in the third quarter, with GDP expanding by 3.4%, outpacing the 3.2% forecast. Consumption increased by 3.8%, while equipment investment surged by 20.9%, largely driven by AI advancements. The Federal Reserve maintained interest rates as expected, projecting a solid economic outlook despite persistent inflation concerns. Two Fed members advocated for a 25-basis-point rate hike, while Chair Kevin Warsh emphasized readiness to act.\n\nThe European Central Bank kept its key interest rate at 2.5%, expressing caution about rising inflation risks stemming from energy costs, while hinting at a possible December rate hike. European markets witnessed a significant setback as the Bovespa index plummeted 13.9%, marking its most substantial decline since March 2020. Brazil's local currency, the real, depreciated by 8.1% in response to President Luiz Inácio Lula da Silva's election victory, heightening concerns about fiscal responsibility.\n\nMeanwhile, Thailand's digital economy continued to flourish, accounting for 70% of all investment applications worth 1.7 trillion baht in the first nine months of 2026. Digital infrastructure projects saw a 62% increase in foreign direct investment applications to 1.55 trillion baht. To address potential power, water, and environmental concerns, the government proposed minimum security, water, and environmental standards for data centers, with implementation scheduled within 8-12 months.",
  "summary": "RECAP: Stock markets sank on Friday and bonds surged amid a tech-led sell-off, as investors grow pessimistic about the returns on massive AI investments. The record theft of $6.3 billion from the crypto platform Binance further rattled investors' nerves.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "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."
}