S&P 500 Tech Slide Overshadows DoorDash Plunge, Datadog AI Surge

U.S. equities faced broad declines Thursday as tech earnings and rising job cuts rattled investors. The Nasdaq led losses with a 1.9% drop, while DoorDash shares cratered 17% after disappointing EBITDA guidance. Conversely, Datadog surged on AI-driven growth, highlighting the market's bifurcated response to tech spending.

Food delivery giant DoorDash became the S&P 500's worst performer after warning of rising infrastructure investments. The selloff reflects growing investor impatience with cash-burning growth strategies in a high-rate environment. Meanwhile, Datadog's cloud security platform demonstrated how AI adoption continues to reward select tech firms with premium valuations.

October's job cut figures—the highest for the month in 22 years—added macroeconomic concerns to the earnings-driven volatility. The data suggests labor market softening may finally be catching up with the tech sector's aggressive pandemic-era hiring.