The Nasdaq 100 is closing in on a CORRECTION. The index fell 3.5% on Friday, leaving it around 9% below its record close. It marked the Nasdaq's worst day since June. At least 18 major tech stocks are already in a bear market from their 52-week highs, including SpaceX (−40%), Oracle (−50%) and Intel (−53%). For Reddit, the pressure comes from something most of us use every day, Google search. Reddit's CEO says Google's AI Mode "does not drive traffic." Reddit plunged 29% on Friday after he warned daily users could fall by a low double-digit percentage this quarter if search referrals keep declining. Alphabet had its worst day ever on Thursday, wiping out around $475 BILLION. Earnings were brutal: Alphabet sank 12.6% after its report, while Intel crashed nearly 29%, Roblox 18% and Sandisk 13% on Friday. Amazon reported $42.4 BILLION in negative free cash flow over 12 months, while keeping its $220 BILLION capital spending plan for 2026. Investors rotated out of AI stocks and into defensive sectors, while Walmart, Coca-Cola and Procter & Gamble all rose. "Black October" is closing out with big tech in retreat.