According to CoinMeta, the Nasdaq 100 index fell 3.5% on Friday, currently about 9% below its all-time high. This was the worst day for Nasdaq since June, with at least 18 major tech stocks entering a bear market from their 52-week highs, including SpaceX (down 40%), Oracle (down 50%), and Intel (down 53%). The CEO of Reddit stated that Google's AI model "did not drive traffic," leading to a 29% plunge in Reddit on Friday. Alphabet experienced its worst day ever on Thursday, with a market value evaporating by approximately $475 billion. Alphabet fell 12.6% after its financial report was released, Intel fell nearly 29%, Roblox fell 18%, and Sandisk fell 13%. Amazon reported negative free cash flow of $42.4 billion over the past 12 months, while maintaining its capital expenditure plan of $220 billion for 2026. Investors shifted from AI stocks to defensive industries, with Walmart, Coca-Cola, and Procter & Gamble all seeing gains. "Black October" is coming to an end, and large tech stocks are generally declining.