Global Markets Today, October 30, 2026: Asian Stocks Tumble on AI Spending Fears, Oil Surges; India Stares At Lower Open

Mumbai, October 30: Asian markets tumbled on Friday as concerns over the sustainability of massive artificial intelligence investments triggered a fresh selloff in technology stocks, while a resurgence in crude oil prices added to global inflation worries. The weak regional cues came after Wall Street ended lower overnight, with disappointing earnings from major technology companies weighing on investor sentiment. Indian markets are likely to see a lower opening. 

Asian Markets Today 

Asian equities came under heavy selling pressure, with technology and semiconductor stocks leading the decline as investors questioned whether the enormous capital expenditure by technology giants would generate adequate returns. 

South Korea’s Kospi plunged 5%, taking its October losses beyond 17%, while Japan’s Nikkei 225 declined 2.5%. China’s blue-chip CSI 300 declined 0.9% and was also headed towards its steepest monthly decline in a decade, reflecting concerns over weakening demand for artificial intelligence-related chips and data-centre equipment. 

The selloff followed a sharp decline in Alphabet shares on Wall Street, with the Google parent losing 12.6% after its quarterly results highlighted mounting AI-related expenditure. Intel shares plunged 23% in after-hours trading, while Amazon fell 7%, sending Nasdaq 100 futures down 2.2%. 

Wall Street Ends Lower 

US markets closed lower on Thursday as investors reassessed the returns from Big Tech’s aggressive AI investments. The Nasdaq Composite led the losses, declining 1.37% to 26,184.72. The S&P 500 fell 0.30% to 7,720.39, while the Dow Jones Industrial Average shed 0.25% to settle at 52,342.56. 

The weakness followed Alphabet’s revenue miss which reignited concerns surrounding AI capital expenditure.  On Wednesday the Federal Reserve decided to keep interest rates unchanged. 

The smallcap Russell 2000, however, bucked the broader trend, gaining 1%, suggesting that selling pressure remained concentrated in certain technology-heavy segments. 

Crude Oil Prices 

Oil prices extended their gains on Friday amid concerns over potential supply disruptions following fresh attacks by Yemen’s Iran-aligned Houthi group on Saudi Arabian energy infrastructure. 

Brent crude futures rose 1.4% to $116.5 a barrel, while US West Texas Intermediate (WTI) gained the same to $103.4. Both benchmarks were on track for a fourth consecutive monthly advance, with Brent heading towards a nearly 14% gain in October. 

The Houthis reported attacks on Saudi Arabia’s Ras Tanura and Rabigh refineries and an Aramco facility in Abqaiq, intensifying concerns over regional energy supplies and the security of shipping routes around the Strait of Hormuz. Uncertainty over the prospects for renewed US-Iran negotiations has further supported prices. 

Indian Markets: What to Expect 

Indian equity benchmarks are likely to open lower on Friday after Thursday’s strong rebound. 

The Sensex had gained 905 points, or 1.24%, to close at 74,151.04 in the previous session, while the Nifty advanced 237.90 points, or 1.05%. 

Investors will track developments in crude oil prices, foreign institutional investor flows and quarterly earnings from heavyweight companies, including Reliance Industries, Sun Pharma and Bharat Electronics, which are scheduled to report results later in the day. 

Foreign portfolio investors turned net sellers on Thursday, offloading equities worth Rs 944 crore after two consecutive sessions of buying. Domestic institutional investors, meanwhile, purchased shares worth Rs 1,924 crore. 

With oil hovering above $115 a barrel and global technology stocks facing renewed pressure, the domestic market’s ability to sustain Thursday’s recovery will remain in focus. 

Source

• Exchanges