Mumbai, Nov. 2 -- The US stocks saw heavy losses on Friday after the latest tech earnings reignited concerns over recent spate of hefty spending on AI. The Nasdaq Composite tanked 2.86% and the S&P 500 fell 1.82%, each suffering their worst day since June. The Dow fell 572 points, or roughly 1.1%. Recent selling has pulled indices off their record high. The Nasdaq has lost 7.8% from its record high and suffered its worst monthly decline since March 2025. The S&P 500 also fell around 3% since its peak. US stocks plunged heavily last week following earnings from Amazon and Alphabet. For the month of October, the Dow added 1.5%, while the Nasdaq and S&P 500 slipped 5.2% and 1.2%, respectively.

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