Amazon and Intel results deepen AI-spend doubts while the largest crypto theft on record freezes $6.3 billion in assets and knocks Bitcoin below $78,000.
MoneyTurkey Derivatives Desk | 1 November 2026
Key points
- Nasdaq 100 futures fell 646 points, or 2.2%, by 04:04 ET, extending Thursday’s 1.38% slide in the cash index.
- Binance reported a $6.3 billion hack; Tether, Circle and Binance froze $1.56 billion, $800 million and $3 billion respectively, sending Bitcoin below $78,000.
Nasdaq 100 futures opened sharply lower Friday after Amazon and Intel posted earnings shortfalls that raised fresh questions about the pace of returns on AI infrastructure spending. At the same time, the largest cyber theft in crypto history struck Binance, freezing $5.36 billion in stablecoins and pushing Bitcoin below $78,000. The twin shocks left equity-index futures signalling further downside for growth names and lifted demand for Treasuries as a defensive hedge.
What happened
Amazon missed both EPS and revenue estimates, even as AWS posted its fastest growth in five years. Shares traded more than 7% lower in pre-market action. Intel warned of continued softness in the PC market and cut fourth-quarter guidance, sending its stock down more than 25% before the cash open.
Alphabet shares were little changed after a 12% decline on Thursday that erased more than $500 billion in market value. Microsoft also finished lower as investors weighed the company’s continued heavy AI outlays and its recent $25 billion bond issue. Reddit fell more than 20% after its CEO flagged a possible double-digit drop in daily users for the fourth quarter.
Separately, Binance disclosed a security incident that resulted in the theft of approximately $6.3 billion in digital assets. The exchange said roughly half the stolen funds had been frozen by stablecoin issuers Tether and Circle. Bitcoin traded below $78,000 on the news, while Circle shares fell more than 5% in early dealing.
What the futures and options market is pricing
By 04:04 ET, Nasdaq 100 futures had dropped 646 points, or 2.2%, while S&P 500 futures were 78 points, or 1.0%, lower. Dow Jones futures slipped just 21 points, or 0.1%, showing the sell-off remains concentrated in growth and technology exposure.
The moves extend Thursday’s 1.38% decline in the Nasdaq Composite and point to further near-term pressure on AI-related names. Treasury futures attracted bids as investors sought defensive duration, consistent with the equity weakness.
In crypto markets, the immediate response was a sharp drop in Bitcoin and related exchange-traded products. The ProShares Bitcoin Strategy ETF and iShares Bitcoin Trust both traded lower in pre-market hours, reflecting reduced risk appetite after the $6.3 billion loss at Binance.
Why it matters
The earnings shortfalls from two of the largest AI spenders arrive as investors scrutinise whether the build-out is translating into revenue growth at a pace that justifies the capex. Amazon’s double miss and Intel’s weak guidance suggest the payoff may be slower than hoped, raising the risk of further de-rating in high-multiple tech names.
The Binance incident marks the largest single cyber theft in crypto history and highlights persistent security vulnerabilities at even the biggest platforms. With $5.36 billion of the stolen assets already frozen, the episode could prompt tighter scrutiny of exchange custody arrangements and stablecoin reserves.
For traders, the combination of equity de-risking and crypto-market stress increases the chance of correlated downside across risk assets. Friday’s futures pricing shows that positioning is shifting away from growth and into duration, a move that could persist into next week if the earnings and security concerns remain unresolved.
What to watch
- S&P 500 and Nasdaq 100 futures levels into the cash open for continuation signals.
- Bitcoin and ether price action after Binance resumes withdrawals on Sunday.
- Ten-year Treasury futures for any further flight-to-safety bid.
- Next data releases that could shift rate expectations and volatility pricing.
For information only. Not investment advice.
