Tech stocks slumped on Thursday amid mixed earnings from key Wall Street firms and rising oil prices, which sapped market sentiment. A robust quarterly report from SpaceX, SpaceX's first since listing, provided some support and showed further investment in the AI space. However, earnings from Tesla and Meta left investors in a more uncertain stance.
Microsoft, Amazon, and Alphabet are scheduled to report next week, with Apple and Nvidia due to release their quarterly statements in November. European markets, which feature fewer major tech firms, also saw declines, with London's Barclays and Paris' CAC 40 indexes slipping due to energy price increases and geopolitical tensions.