What are today's top business/market headlines?

I'll fetch the latest business and market headlines for you.Gathering more details from major sources for the most current headlines.Today’s top business and market headlines (as of October 31, 2026) center on a sharp tech-driven selloff on Wall Street, a massive cryptocurrency heist, strong oil major earnings amid geopolitical tensions, and ongoing AI investment concerns. Markets were closed for the weekend, so much of the action reflects Friday’s (Oct. 30) close and follow-on developments.[1]

Markets and Tech Selloff

•Wall Street closes sharply lower as AI cash-burn fears spark tech selloff: The Nasdaq Composite dropped about 2.9% (its worst day since June), the S&P 500 fell ~1.8%, and the Dow Jones Industrial Average declined ~1.1%. The tech-heavy Nasdaq 100 saw roughly $2 trillion in market value wiped out in October amid scrutiny of Big Tech’s massive AI spending and uncertain near-term returns.[1]

•Key movers included Intel, which plunged nearly 29% (its worst day in decades) after a weak profit forecast and outlook; Amazon shares were pressured by a cautious Q4 outlook and significant free cash flow burn despite strong AWS/cloud growth; and earlier weakness in Alphabet (Google parent) after spending revelations. Chip stocks broadly suffered (e.g., Nvidia down several percent).[2]

•Treasury yields sank as investors sought safety; oil prices rose. The selloff intensified month-end positioning and pre-midterm caution. Fear & Greed Index readings reflected fear driving the market.[3]

Cryptocurrency

•Record $6.3 billion Binance hack (world’s largest crypto heist): The world’s largest crypto exchange was hit by a suspected North Korean-linked attack. Binance suspended withdrawals initially; it later reported ~90% of losses covered and plans to resume withdrawals. Crypto exchanges are urging faster defenses and industry information-sharing. Bitcoin and related stocks (e.g., Coinbase) fell amid the news.[1]

Energy and Commodities

•ExxonMobil and Chevron beat Q3 forecasts: Both oil majors reported stronger-than-expected profits, driven by surging refining margins amid wars (including involving Iran) and solid upstream production (e.g., Guyana, Permian). This comes as U.S. gas prices remain elevated. OPEC+ sources indicate agreement in principle to hold oil output targets steady for December.[1]

AI, Tech, and Corporate

•AI spending scrutiny deepens: Big Tech is returning a smaller share of cash to shareholders (lowest in 15+ years) due to AI capex. OpenAI has pared its latest fundraising goal (now seeking up to ~$20 billion, with a lower target valuation reported in some accounts) amid the tech rout. Anthropic filed for a potential major IPO while highlighting extensive AI safety/risks.[3]

•Other notes: DoorDash’s deal to buy Instacart (~$17B) was recently highlighted; Microsoft raised significant debt cheaply while protecting its credit rating.

Economy, Policy, and Other

•Recent data showed solid U.S. GDP growth but elevated inflation (around 3.7% in some readings). The Fed recently held rates steady (with some dissents favoring hikes) while monitoring inflation. Midterm elections loom as a near-term market focus, alongside jobs data and more earnings.[4]

•Additional headlines: U.S. approves $2.1 billion Patriot missile sale to Ukraine; a judge dismissed Trump’s defamation lawsuit against the Wall Street Journal (related to an Epstein letter report); China’s factory activity contracted; and various corporate moves (e.g., legal firm wind-downs, Super PAC spending).

These themes—AI investment returns, crypto security, energy geopolitics, and pre-election economics—dominated coverage from Reuters, CNN Business, CNBC, AP, and others. For real-time updates, check sources like Reuters Business or CNBC, as situations (especially crypto recovery and weekend developments) can evolve quickly.

Citations (4)

1reuters.comNews and mediaquality 1.00
https://www.reuters.com/business/
Backs: “investment concerns. Markets were closed for the weekend, so much of the action reflects Friday’s (Oct.”
2rutlandherald.comNews and media
https://www.rutlandherald.com/news/business/ap-business-summarybrief-at-7-00-a-m-edt/article_7892165c-5ce6-5298-a17d-cde608df22e6.html
Backs: “Key movers included Intel, which plunged nearly 29% (its worst day in decades) after a weak profit forecast and outlook; Amazon shares were pressured by a cautious Q4 outlook and significant free cash flow burn despite strong AWS/cloud growth; and earlier weakness in Alphabet (Google parent) after spending…”
3cnn.comNews and mediaquality 0.66
https://www.cnn.com/business
Backs: “The selloff intensified month-end positioning and pre-midterm caution.”
4theguardian.comNews and mediaquality 0.75
https://www.theguardian.com/us-news+business/business
Backs: “The Fed recently held rates steady (with some dissents favoring hikes) while monitoring inflation. Midterm elections loom as a near-term market focus, alongside jobs data and more earnings.”