Welcome to Markets Desk, your midday read on what's moving and why.
Stocks finished in the red Thursday, with the Nasdaq one hundred taking the hardest hit, off nearly one and a half percent. Alphabet's disappointing results weighed on sentiment, and semiconductor names sold off broadly, dragging futures lower into the close with December E-mini Nasdaq contracts falling more than two and a half percent.
Staying in tech, Amazon gave investors a reason to look past the near-term noise. CEO Andy Jassy confirmed the company will spend meaningfully more on AI infrastructure in two thousand twenty seven, building on an already record two hundred twenty billion dollar capital expenditure forecast for two thousand twenty six. Cloud and AI remain the growth engine, and Jassy signaled the spending cycle is far from its peak.
Meanwhile, serious alarm bells are ringing in crypto markets. Binance founder Changpeng Zhao acknowledged the exchange may be the target of the largest theft in cryptocurrency history, with analysts estimating hackers made off with at least one point seven billion dollars. Binance moved quickly to reassure customers, stating user funds are completely safe while security teams investigate with urgency.
That's the tape. Markets Desk, signing off the floor.
