US Stocks Plunge at Open as Chip Stocks Lead Declines
US stocks opened lower on Friday (30th), with the Philadelphia Semiconductor Index falling 655 points, down 5.69%; the Dow falling 160 points, down 0.31%; the Nasdaq falling 365 points, down 1.38%; and the S&P 500 falling 97 points, down 1.25%. 台積電 ADR at one point fell $17.19, down 3.98%; 輝達 fell $6.66, down 3.12%. Chip stocks were broadly under pressure, with 超微 down 8%, and 輝達 and 博通 each down about 3%.
亞馬遜 fell 6% in premarket trading, with third-quarter earnings and revenue both below Wall Street expectations, free cash flow at negative $42.4 billion, while maintaining its 2026 capital expenditure forecast at $220 billion. 英特爾 fell nearly 24% on a weak outlook for the current quarter and slowing personal computer demand, with client computing and physical AI business group revenue down 5% year-on-year to $8.1 billion. Sandisk fell 9% in premarket trading, and despite a better-than-expected first-quarter forecast, announced a 1-for-8 stock split.
Rotation Into Defensive Stocks Moves Higher
As investors exited technology stocks, consumer staples and health care stocks moved higher. 寶僑, 沃爾瑪 and 可口可樂 each rose about 2%, supporting the Dow, while fellow Dow components 嬌生 and 默克 also each rose about 2%. 摩根大通 traders said in a report that as doubts over AI profit models resurface, stock rotation may continue, but broad market indexes will reflect declines in technology stocks.
The decline comes as investors reassess AI trades. During regular trading on Thursday, Alphabet fell 12% as third-quarter earnings and revenue missed expectations and free cash flow came in at negative $9.07 billion, dragging the Nasdaq Composite down 1.4% and the S&P 500 down 0.3%. Friday was the last trading day of October, and hyperscale cloud operators Alphabet and 微軟 did not raise their capital expenditure forecasts, while 新興 cloud companies providing AI data center infrastructure face investor scrutiny over debt levels.
Taiwan Stocks Plunge, Night Session Falls Below 45,000 Points
Asian stocks declined together, with Taiwan stocks closing down 1,156.5 points, the three major institutional investors selling a combined NT$139.8 billion, including NT$112.4 billion sold by foreign investors, the 7th largest sell-off on record, while Taiwan index futures in the night session plunged more than 400 points, falling below 45,000 points. The Nikkei 225 closed down 2.12%, South Korea's Kospi fell 3.48%, Australia's S&P/ASX 200 rose 0.18%, and China's CSI 300 closed down 1.39%.