US Stocks End October Mixed: Nasdaq Falls 5.3% in Worst Month Since March 2025 as Dow Gains 1.7%
US stocks closed out October on Friday, October 30 (data as of the October 30 close, per Associated Press market statistics). All three major indexes fell on the day: the S&P 500 lost 1.82% to 7,580.07, the Nasdaq Composite dropped 2.86% to 25,437.00 in its worst day since June, and the Dow Jones Industrial Average slipped 1.09% to 51,770.31.
For the week, the S&P 500 fell 0.57%, the Nasdaq 2.00% and the Dow 0.85%, a third straight weekly loss for the S&P 500. For the month, the indexes diverged: the Dow gained 1.70%, the S&P 500 lost 0.93%, and the Nasdaq fell 5.30%, its steepest monthly decline since March 2025. The small-cap Russell 2000 rose 0.54% in October. Year to date, the S&P 500 is up 10.7%, the Nasdaq 9.4% and the Dow 7.7%.
The late-October selloff was driven largely by doubts over big tech's super intelligence (SI) spending. Alphabet shares fell 12.6% on Thursday, October 29, wiping out roughly $500 billion in market value in a day (reported earlier by GSM); after Amazon and Intel reported, concerns grew over the pace of their cash burn. Intel plunged 28.58% on Friday to close at $65.76, its worst day since 1974, while Nvidia fell 4.22%. The hack of the Binance exchange (reported by GSM today) also weighed on crypto-related stocks. The 10-year US Treasury yield stood at 4.93% on Friday.
October was not a across-the-board loss: nine of the S&P 500's eleven sectors gained for the month as money rotated out of the tech giants, and Berkshire Hathaway's Class B shares rose 8.9% in October, according to CNBC figures.
In commodities, gold fell 7.1% in October to about $3,890.50 an ounce on Friday, while WTI crude settled up 2.08% at $104.12 a barrel on Friday, a gain of about 15% for the month.
Source: GSM · USA
Source: GSM · USA (original Chinese edition)
Photo: 图：纽约证券交易所大楼（Arild Vågen 摄，经 Wikimedia Commons，CC BY-SA 4.0）。 / The New York Stock Exchange building in New York (Photo: Arild Vågen via Wikimedia Commons, CC BY-SA 4.0).
