Global equity funds attract $10.19 billion as inflows ease
Asian equity funds led regional demand with $9.9 billion, while US equity funds recorded withdrawals of $6.65 billion.
Nasdaq 100 faces October market value loss above $2 trillion
Higher AI spending forecasts from major technology companies have sharpened investor concerns about returns and debt financing.
The Nasdaq 100's October decline exceeded 5.8% as of October 30, putting the index on track to lose more than $2 trillion in market value for the month. Big Tech earnings have heightened doubts among investors about how quickly artificial intelligence investments will produce returns.
Meta Platforms, Alphabet and Amazon.com lifted their spending forecasts to support the expansion of AI infrastructure. Rising borrowing costs have compounded concerns about the expense of financing that investment through debt.
Alphabet posted its steepest daily percentage loss on record after weak search advertising results and a sharp acceleration in cash burn. At Meta, a planned $97.5 billion capital raising stirred worries about shareholder dilution and the possibility that other technology companies would also need additional funding.
According to a media report, Microsoft plans to raise about $25 billion in a U.S. investment-grade bond sale, its first such offering in more than nine years.
Revenue trends provided a more positive picture. Growth at Amazon Web Services continued to accelerate, Meta's revenue growth beat expectations and Microsoft forecast strong growth for its cloud business.
J.P. Morgan projects global AI capital expenditure of $900 billion in 2026, reaching $5.5 trillion by 2030.