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🚨BREAKING: Intel $INTC plunges over 17% and Amazon $AMZN falls over 5% after hours following earnings. Intel beat Q3 estimates but issued weak Q4 guidance, saying the PC slowdown will last at least through the first half of 2027. Amazon missed on both, with revenue of $201.9 BILLION vs $202.3 BILLION expected, as advertising fell short despite an AWS beat.

China may be the FIRST country to burst the AI bubble. Its stock market, the world’s 2nd-largest, is now OFFICIALLY in a bear market. Its blue-chip CSI 300 has now fallen -20% from its peak. Mainland stocks have lost $2.4T since May. What caused? AI. Over the past 2 years, investors piled into Chinese AI stocks until they made up 42% of the entire market. That frenzy sent new listings flying. GPU makers Moore Threads and MetaX jumped 400% and 700% on their debuts, and robot maker Unitree’s IPO was 8,000x oversubscribed. By the peak, the STAR 50, China’s AI index, was trading near 250x earnings. But the profits never caught up to the prices, and investors started selling. By late October, the index had fallen 40%, erasing $480B. AI makers MiniMax and Zhipu down over -85%. Unitree, Moore Threads, and MetaX all cut in half. AI was too big to fall alone. It took the whole market with it. Moreso, Morgan Stanley sees another 10–15% drop before a bottom. So far, the selling CONTINUES.