Flash News

TREE NEWS update: New Gonow Recreational Vehicles plunged more than 33% at the close on Oct. 27 after Hong Kong’s Securities and Futures Commission flagged its highly concentrated shareholding, capping a year in which the stock had risen nearly 15-fold at its peak. The SFC has now publicly identified 17 Hong Kong-listed companies with concentrated ownership this year, where locked-up shares exceed 90% and thin free floats fuel sharp swings. HKEX said public float supervision and SFC concentration warnings are separate regulatory regimes.

TREE NEWS update: Franklin Templeton’s FBEQ and FIBT ETFs began trading on Nasdaq on Thursday, building their bitcoin allocation from dividends via ETPs, derivatives and depositary receipts rather than holding bitcoin directly. The two funds opened with about $72,000 in trades.

TREE NEWS reports: The Nasdaq 100 fell 3.5% on Friday, its biggest drop since early June, as a deepening selloff in technology stocks hit investors who had bet on the “All-in AI” trade. The three-week slump, driven by growing anxiety over whether technology can generate enough profit to justify the debt-fueled investment boom, sent investors rushing back to defensive sectors that had been long neglected.

TREE NEWS reports: Anthropic PBC committed to spending nearly $900 billion on servers, buildings and power through future obligations as it accelerates infrastructure expansion. The figure far exceeds the liabilities shown on its balance sheet, with details buried in footnotes covering future leases and purchase agreements for data centers, electricity and GPUs. New Constructs CEO David Trainer called the scale of such “hidden debt” enormous, saying the company must spend heavily on training, inference and energy.

TREE NEWS update: StarLink AI Acquisition Corp. (QTAI) is in talks with Spider Digital over a special purpose acquisition company (SPAC) transaction that would value the potential merger at $250 million. The deal, if completed, would take Spider Digital public through the blank-check vehicle. No further terms were disclosed.

TREE NEWS update: S&P Dow Jones Indices will add Okta to the S&P 500, replacing Kenvue, the index provider said. McGrath RentCorp. will join the S&P SmallCap 600, replacing Glaukos. The changes are index reconstitutions and do not reflect any change in the companies’ operations.

TREE NEWS reports: The semiconductor ETF closed down 6.98% on Friday, Oct. 30, leading declines among US sector ETFs, while the global tech index ETF fell 5.11% and the tech sector ETF dropped 4.89%. The energy sector ETF bucked the trend with a 1.91% gain. Within the S&P 500’s 11 sectors, information technology fell 4.24% and energy rose 1.91%; for October, telecom slumped 15.19% and tech lost 6.82%, while energy gained 13.96%.

TREE NEWS reports: The US AI Winners Index fell 5.87% on Friday, October 30, closing at 360.85 points, and has lost 15.05% over the course of October. The index declined steadily from October 6 to 16. On Friday, the biggest decliners among constituents were SanDisk, Coherent (COHR), Astera Labs, AMD, Dell, Nebius Group and Marvell Technology.

TREE NEWS reports: The S&P 500 Semiconductors & Semiconductor Equipment Index closed down 6.38% at 10,433.34 points on Friday, bringing its weekly loss to 1.99% and its October decline to 13.65%. The index had briefly risen to 12,691.43 in early trading on Oct. 6 before steadily declining, and held near 11,000 points from Oct. 15-29. Constituents were almost uniformly lower, with Intel crashing 28.58%, Qualcomm falling 11.12%, and AMD and Marvell each dropping at least 10.05%.

TREE NEWS update: S&P lowered its rating outlook on Meta Platforms from stable to negative, citing significant uncertainty over capital expenditures and free operating cash flow. The agency expects Meta to fund its projected free cash flow shortfall solely through debt in 2028, and said adjusted leverage could exceed 1.0x as early as 2027, the downgrade threshold for its AA- issuer credit rating.

TREE NEWS reports: In late New York trading on Friday, October 30, S&P 500 futures closed down 1.8%, Dow futures fell 1.06% and Nasdaq 100 futures dropped 3.46%. Russell 2000 futures lost 1.64%.

TREE NEWS reports: The Magnificent 7 index fell 1.99% to 220.86 on Friday, October 30, approaching its August 24 close of 220.78 and its July 31 close of 217.63. The gauge closed below its 50-day moving average on Wednesday and broke its 100-day moving average at Friday’s open, with the 200-day average at 213.94. It lost 3.10% for the week and 5.28% in October. The super-cap tech index dropped 3.34% to 437.19, down 5.99% for the month.

TREE NEWS reports: Apple reclaimed the title of the world’s most valuable company on October 30, surpassing Nvidia at the US market close. Apple shares closed at $344.63, down 1.23%, giving it a market capitalization of about $5.03 trillion, while Nvidia closed at $204.64, down 4.22%, with a market cap of roughly $4.93 trillion. Apple had previously overtaken Nvidia several times in July and late October this year.

TREE NEWS reports: Intel beat third-quarter earnings expectations but warned of a prolonged PC slump, sending its shares to their worst daily decline in 50 years. The weak forecast overshadowed demand for its AI chips. The selloff marks the steepest one-day drop for the chipmaker in half a century.

TREE NEWS reports: Barclays strategist Alexander Altmann said about 60% of the S&P 500’s projected earnings growth for next year comes from semiconductor forecasts, with the broader tech sector accounting for 75%. In an earlier report, Altmann wrote that AI is now almost synonymous with semiconductors, and noted the S&P 500’s similarity to South Korea’s Kospi is surpassing that of a diversified 500-security portfolio. The Philadelphia Semiconductor Index fell as much as 9.4% intraday Friday, its largest drop since early June.

TREE NEWS reports: The US memory chip and hardware supply chain index fell 8.04% to 162.69 points on Friday, October 30, bringing its October decline to 24.77%. The index slid steadily from October 6 to 16 and held roughly flat near 170 points from October 15 to 29. All constituents fell Friday, with SanDisk down 13.47%, while Seagate, SK Hynix ADR, Applied Materials, Western Digital and Teradyne dropped 7.98%-7.38%.

TREE NEWS reports: Analysts at Cantor Fitzgerald, TD Cowen and Compass Point said the record $6.4 billion crypto theft is a Binance security failure rather than a systemic threat to the industry, and are pointing clients toward listed proxies such as Coinbase, Robinhood and Strategy. The firms framed the incident as company-specific, steering investors toward stock-market exposure instead of direct tokens.

TREE NEWS reports: The Nasdaq-100 dropped 1,017.663 points, or 3.46%, to close at 28,384.845, while the Nasdaq Composite fell 747.726 points, or 2.86%, to 25,436.999. The tech-heavy index lost 6.65% in October, and the semiconductor index sank 7.2% on the day and more than 15% for the month. The S&P 500 fell 1.82% to 7,580.07, and the Dow Jones Industrial Average declined 1.09% to 51,770.31.

TREE NEWS reports: Reddit shares have fallen 44% this week after CEO Steve Huffman warned that Google’s AI-powered search features are reducing referrals to the platform. Weaker user growth and disappointing fourth-quarter guidance added to investor concerns, with the stock dropping as much as 30% in a single session.

TREE NEWS reports: The Hang Seng Index main futures contract closed up 0.25% at 23,345 in overnight trading. The Hang Seng Tech Index futures contract closed down 0.08% at 3,758.