U.S. equities closed out a punishing week and month as investors reassessed the enormous cost of the artificial-intelligence buildout, and the coming days bring a heavy slate of catalysts: earnings from Apple, Palantir, AMD and dozens of other companies, U.S. midterm elections, and the October jobs report. The stretch ahead also carries continued fallout from a multibillion-dollar security breach at Binance, the world's largest crypto exchange.

Wall Street's Rough Week

U.S. stocks ended last week sharply lower after weak tech earnings and growing concerns about AI spending. The Dow Jones Industrial Average fell 1.09% on Friday to 51,770.31. The S&P 500 dropped 1.82% to 7,580.07, and the Nasdaq 100 slid 3.46% to 28,384.85.

For October, the Nasdaq Composite lost 5.3%, its biggest monthly decline since March 2025. The S&P 500 slipped 0.9% for the month, while the Dow gained 1.7%.

Big Tech lost more than $1 trillion in market value over the week as investors questioned heavy AI spending. Alphabet fell more than 12% on Thursday, its worst single-day decline on record, a drop that wiped out over $500 billion in market value. Intel plunged nearly 29% on Friday — its worst trading day since 1974 — after issuing a weak earnings outlook. Advanced Micro Devices lost nearly 11%, and Nvidia fell more than 4%.

Wall Street is obliterating BIG TECH, with Intel plunging nearly 30% and AMD losing more than 11%. And the rest of the market? Surprisingly calm. Nvidia is down 4.32%, Broadcom 5.63%, while Microsoft and Amazon are also in the red. But ENERGY, UTILITIES, REAL ESTATE and parts… pic.twitter.com/cpNjR89sjd

— Mario Nawfal (@MarioNawfal) October 30, 2026

Amazon reported negative free cash flow of $42.4 billion for the 12 months ended September 30, swinging from positive $14.8 billion a year earlier. The company said higher spending on AI infrastructure drove the change.

Reddit shares fell about 29% on Friday. Third-quarter revenue rose 53% to $895 million, but the company's fourth-quarter forecast came in below analyst estimates. Reddit also disclosed that Google Search referrals fell by more than 1 million per week in October.

That backdrop raises the stakes for the earnings marathon ahead: with investors openly questioning heavy AI spending, the outlooks delivered by companies reporting in the days ahead will be scrutinized for fresh detail on the buildout's cost and pace.

Crypto and Energy Markets

Binance reported a security breach involving an estimated $6.3 billion in digital assets. The company said a hacked employee laptop may have given an attacker access to its systems. The exchange paused deposits and withdrawals while working to contain the damage, and about $3 billion in affected assets have been frozen on blockchain networks. Binance said it will cover customer losses with its own funds and emergency reserves, though the full extent of the losses is still unclear.

As the world's largest crypto exchange, how quickly Binance can secure the remaining assets and restore normal operations is among the week's most closely followed storylines for digital-asset markets.

Bitcoin traded near $76,650 on Friday.

Energy stocks held up better than technology. ExxonMobil posted about $17.5 billion in quarterly profit, up 130% from a year earlier, while Chevron earned roughly $10.4 billion, up 185%. U.S. crude oil rose to about $102.95 per barrel.

Separately, Anthropic filed an S-1 registration statement with the U.S. Securities and Exchange Commission on October 26. The company is preparing for a possible Nasdaq listing under the ticker ANT, and the filing showed more than $16 billion in revenue in the first half of 2026. The filing adds a potential new listing to the AI sector's public-market roster at a time when investors are scrutinizing the industry's spending.

What to Watch This Week

Apple reports Monday, November 2, after the market closes. It will be the first earnings call for new CEO John Ternus, with analysts expecting earnings of $1.99 per share on revenue of about $113.40 billion. After last week's mega-cap rout, it also stands as one of the first big tests of investor sentiment toward large-cap tech. Palantir also reports Monday, with analysts forecasting earnings of $0.41 per share on revenue of about $2.18 billion.

AMD reports Tuesday after the close, with analysts expecting $1.95 per share on revenue of about $13.09 billion. Its results arrive days after Intel's worst trading day since 1974 and AMD's own roughly 11% slide, making its outlook one of the week's most closely watched. Super Micro Computer reports the same day.

#earnings for the week of November 2, 2026 $AAPL $PLTR $AMD $DIBS $APP $AEHR $QCOM $AMC $SHOP $MRNA $SMCI $TXG $UBER $LITE $COHR $CHKP $KTOS $NVTS $ANET $FSLY $AAOI $BMRN $VSH $NET $OKLO $DOCS $TEM $PFE $CIFR $EL $CAVA $RIOT $BKNG $TEAM $NVO $ABNB $ETN … pic.twitter.com/i5Z2572tiF

— Earnings Whispers (@eWhispers) October 30, 2026

Uber, Qualcomm, Arm Holdings and McDonald's report Wednesday, along with DoorDash, which agreed last week to merge with Instacart. Shopify, Cloudflare, IonQ and Airbnb report later in the week, and Moderna reports Friday before the market opens.

Beyond earnings, U.S. midterm elections take place Tuesday, November 3, when the Job Openings and Labor Turnover Survey is also due. The Federal Reserve held interest rates steady at its October 28 meeting.

The Bureau of Labor Statistics will release October job numbers Friday, November 6, at 8:30 a.m. ET. Employers added 29,000 jobs in September, and the unemployment rate rose to 4.2%. With September's slowdown still fresh, the October figures will show whether the labor-market softness extended into a second month. The 10-year Treasury yield ended last week near 4.93%.

This article originally appeared on CoinCentral.