Tech Stocks and Crypto Face Sharp Declines Following Amazon Earnings and Massive Binance Hack
Major technology stocks are facing significant downward pressure following disappointing earnings reports from Amazon (AMZN) and Intel (INTC). Amazon shares fell over 7% premarket after missing both EPS and revenue estimates, despite strong AWS growth. Meanwhile, Intel shares plummeted 25% in premarket trading due to weak fourth-quarter guidance and a prolonged slowdown in the PC market. The cryptocurrency market is also experiencing extreme volatility following a record-breaking $6.3 billion security breach at Binance. Initial investigations suggest a compromised DevOps engineer's laptop was the entry point, with speculation pointing toward state-backed actors such as North Korea. In response to the heist, Binance has frozen $3 billion in assets, while Circle and Tether have also frozen significant funds related to the incident.
Topics: Amazon Earnings Crypto Hack Intel Earnings Market Volatility Tech Sell-off
Part of the story XRP Declines Following Record $6.3 Billion Binance Hack (6 articles)