Wall Street Favorites Lose $5 Trillion in Worst Slump Since 2010
Updated
Updated · Yahoo Finance · Oct 31
Wall Street Favorites Lose $5 Trillion in Worst Slump Since 2010
3 articles · Updated · Yahoo Finance · Oct 31
Summary
$5 trillion has been wiped from the AI trade since Oct. 6, including about $1.6 trillion on Friday alone, marking Wall Street favorites' deepest slump since 2010.
Big Tech earnings reignited worries about AI spending, hitting crowded analyst picks as Alphabet logged its worst month on record and Intel its worst day since 1974.
Piper Sandler said the S&P 500 stocks with the highest share of Buy ratings have lagged the least-favored group for most of 2026, the third-worst such stretch in data back to 1995.
Nvidia and Alphabet alone shed about $835 billion each, while the other 625 large U.S. stocks gained roughly $1.3 trillion, led by Eli Lilly, Walmart and Exxon Mobil.
Because favorites such as Nvidia and Alphabet dominate index funds and 401(k)s, the selloff is hitting broad portfolios and underscoring how crowded trades can unravel when few new buyers remain.