October 31 – The Nasdaq 100 fell as much as 4.5% intraday on Friday, retreating more than 10% from its recent high and entering its third technical correction this year, with a cumulative decline of about 3% for the week. Disappointing earnings from Alphabet, Amazon, Intel, and ServiceNow triggered a tech selloff. Investors are increasingly questioning the return on AI investments, while growing financing needs among tech companies have added to sector volatility. Strategists noted that investors no longer take it for granted that AI investments will deliver substantial returns, and are instead zeroing in on return on capital and capital recovery. The last time U.S. stocks saw three or more 10% swings within a year was in 2022.