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Big Tech Earnings Rattle Markets While Trump-Xi Truce Offers Brief Respite

Big Tech Earnings Rattle Markets While Trump-Xi Truce Offers Brief Respite

Author:

Global Cryptocurrency

Published:

2025-10-30 13:54:02

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BTCCSquare news:

Tech giants Meta and Microsoft sent shockwaves through equity markets with disappointing earnings reports, underscoring growing investor skepticism about unchecked AI spending and regulatory risks. Meta's 8% plunge followed a $15.9 billion charge tied to Trump-era legislation, while Microsoft's 3% drop reflected concerns over its $3.1 billion OpenAI investment. The selloff dragged major indices lower, contrasting sharply with Alphabet's 7% rally.

Meanwhile, global markets found temporary relief as former President TRUMP and China's Xi Jinping announced a limited trade truce during South Korea talks. The agreement halved U.S. tariffs on Chinese fentanyl-related imports, marking a tentative thaw in relations between the economic superpowers.

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