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Yahoo Finance

Big Selloff Collides With More Big Tech Earnings and a Midterm Election

AI Market Summary
The earnings misses from Alphabet, Amazon, and Intel triggered a sharp tech-led selloff, with Alphabet losing over a quarter of its value. The key issue is AI eroding search monetization while earnings fail to justify elevated expectations. This raises near-term volatility across tech indices and risk assets, with possible spillover to crypto sentiment.
Impact level
● High
Affected assets
NCSKGOOGL2USD/USDT+0.02%
AI Insight · NCSKGOOGL2USD/USDTAI Insight
▼ Bearish
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⚠️ AI-generated insights are based on news content and are provided for informational purposes only. They do not constitute investment advice or represent the views of BingX. Investing involves risk. Please trade responsibly.
Alphabet's revenue and profit both fell short of expectations, sending its shares down 13% and erasing more than a quarter of its market value. Earnings from Amazon and Intel also weighed on the technology sector.
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