Author: Nishtha Mehrotra | EQMint
Synopsis:
- A technology-led sell-off wiped out more than $1 trillion in market value, with the S&P 500 falling 1.82% and Intel plunging nearly 29% on October 30.
- Binance suffered a record-breaking security breach involving approximately $6.3 billion in crypto assets, triggering fresh concerns about cryptocurrency security.
- Falling precious metal prices, AI valuation concerns and uncertainty over US interest rates added to an increasingly volatile global financial environment.
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Global Markets in Turmoil: AI Sell-Off, Binance Hack and Falling Gold Prices
New Delhi, October 31, 2026: Global financial markets witnessed a turbulent end to October as concerns over artificial intelligence (AI) valuations, weakening technology stocks and rising financial uncertainty triggered a broad sell-off across asset classes.
On October 30, the S&P 500 fell 1.82%, while the Nasdaq declined 2.86%. The technology-led sell-off erased more than $1 trillion in market value. Intel shares plunged nearly 29% in their worst single-day decline since 1974, following a disappointing revenue forecast and concerns over profitability.
The pressure follows a sharp correction in China’s AI and semiconductor sector. The STAR 50 index has fallen approximately 40% in less than four months, wiping out an estimated $480 billion in market value.
Meanwhile, US monetary policy has added to investor concerns. Federal Reserve Chair Kevin Warsh has maintained a focus on controlling inflation, with markets anticipating another potential interest rate increase in December.
The turbulence has extended beyond equities. Gold slipped below $4,000 per ounce, while silver approached the $50 mark. Cryptocurrency markets also faced pressure following a major security breach at Binance.
The exchange confirmed an incident involving approximately $6.3 billion in crypto assets, making it the largest reported cryptocurrency theft. Binance has said it will cover the losses, while investigations and recovery efforts continue.
With technology valuations under pressure and uncertainty spreading across markets, October has raised fresh questions about the sustainability of the global AI investment boom and the stability of financial markets.
Disclaimer: This article is for information purposes only and is not investment advice.
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