Australian stock market faces subdued open after United States technology selloff

Capital Brief reported that the Australian sharemarket was set to open lower after stock markets in the United States fell sharply on Friday, 31 October 2026. The fall followed poor quarterly earnings reports from technology giants Intel and Amazon, which raised market concerns regarding heavy spending on artificial intelligence. [1]

According to Capital Brief, the Nasdaq Composite index recorded its largest single-day percentage drop since 5 June. On Friday, the Dow Jones Industrial Average dropped 1.09 per cent, the S&P 500 index decreased by 1.82 per cent, and the Nasdaq index fell 2.86 per cent. Australian Securities Exchange futures were down four points to 8,914 points. [1]

The latest downturn follows earlier volatility in international markets. As FTMQ Business reported earlier, Wall Street previously experienced losses after Alphabet posted weaker summer revenue growth, even while Australia's S&P/ASX 200 index gained 0.6 per cent in morning trade. [5]

The Nasdaq Composite is one of the three primary stock market indexes in the United States alongside the Dow Jones Industrial Average and the S&P 500. Publicly traded companies listed on the exchange fall under regulation by federal agencies including the Securities and Exchange Commission. [4]