Tech and crypto stocks slide as AI funding gets pricier; Apple, AMD and U.S. payrolls in focus this week
U.S. equities ended last week under pressure as a sharp sell-off in technology and semiconductor names pulled the Nasdaq lower, with Intel at the center after weak fourth-quarter guidance. The Philadelphia Semiconductor Index dropped 7.20% on Friday, while the Nasdaq Composite fell 2.86%. Investors are also reassessing whether massive AI spending can keep translating into returns, and whether capital will remain available on the same terms. That shift is showing up not only in equities, but in credit markets and private fundraising. Intel, Alphabet and Meta have all fallen below recent stock offering subscription prices, leaving participating investors underwater. OpenAI has cut its latest fundraising target, while Microsoft completed a $25 billion bond sale, its first U.S. dollar bond issuance since 2017. In crypto-linked equities, names including Bullish, Galaxy Digital, Coinbase and Circle all moved lower. Binance later resumed withdrawals after reporting heavy outflows, and spot Bitcoin ETFs saw a net outflow of $643 million on the day cited in the report. The week ahead is packed. Apple reports Monday after the close, AMD is due Tuesday after the bell, and the U.S. October nonfarm payrolls report lands Friday. Markets are also watching eurozone inflation data, U.S. services activity readings, and developments tied to China’s financial policy meetings.
