10月以英特爾、Reddit與AI中堅股重挫收場

記者 Sinéad Carew 與 Chuck MikolajczakBy Sinéad Carew and Chuck Mikolajczak

紐約10月30日（路透）——週一將揭開全新交易月份，對許多人來說，這在10月最後一個交易日劇烈震盪後頗具吸引力。NEW YORK, Oct 30 (Reuters) - Monday will ring in a brand-new trading month, a prospect that appeals to many after a doozy of a last session in October.

今年科技股漲勢再度面臨考驗，週五使那斯達克綜合指數創下6月以來最大跌幅。晶片製造商英特爾（Intel）和社群媒體公司 Reddit 下跌29%；晶片製造商 Sandisk 則下跌13%，該公司一直是AI資本支出熱潮的最大受益者之一。A fresh test of this year’s technology rally sent the Nasdaq composite on Friday to its biggest decline since June. Chipmaker Intel and social media firm Reddit fell 29% and Sandisk, a chipmaker that has been one of the great beneficiaries of the AI capital-spending boom, dropped 13%.

週五拋售前，位居AI建設核心的大型科技公司已遭重挫，跌勢由微軟（Microsoft）、Meta Platforms、亞馬遜（Amazon）以及 Google 母公司 Alphabet 領跌。這些公司股價週五下跌1%至2%，而本週稍早已出現顯著跌幅。Friday’s selloff came after a bruising for the big tech firms at the center of the AI buildout, led by Microsoft, Meta Platforms, Amazon and Google parent Alphabet. Their shares dropped 1% to 2% on Friday following significant declines earlier in the week.

凱投宏觀（Capital Economics）表示，這四家所謂的超大規模雲端服務商，在過去12個月內合計負責了標普500指數目前成分股所有資本支出的三分之一以上。該機構並補充說，這一占比似乎可能升至更高水準，而這個前景正讓投資人感到棘手。The four so-called hyperscalers have been collectively responsible for more than a third of all the capital spending undertaken by the current constituents of the S&P 500 over the past 12 months, Capital Economics said, adding that their share seems likely to rise to an even higher level – a prospect that investors are struggling with.

凱投宏觀市場經濟學家約翰・希金斯（John Higgins）表示：「如今，超大規模雲端服務商合計的資本支出熱潮正變得部分依賴外部融資，投資人對它們共同投入的金額以及投入方式愈來愈感到緊張。」“Now that the combined capital spending boom at the hyperscalers is becoming partly dependent on external financing, investors are becoming more nervous about the sums they are collectively investing and how they are doing it,” said John Higgins, a markets economist at Capital Economics.

以大型非金融股為主的那斯達克100指數一度跌幅更深，終場下跌3.5%，瀕臨修正邊緣，也就是較近期高點下跌10%。那斯達克綜合指數已較收盤高點下跌7.8%；該指數經歷2025年3月以來最糟單月表現，抹去今年由AI帶動漲幅的一大部分。The Nasdaq 100 index of large nonfinancial stocks fell 3.5% after being down more, putting it on the brink of a correction, referring to a 10% decline from its recent high. The Nasdaq composite is down 7.8% from its closing high, after its worst month since March 2025 wiped out a chunk of this year’s AI-fueled gain.

Annex Wealth Management首席經濟策略師布萊恩・雅各布森（Brian Jacobsen）表示：「投資人突然間集體表態，在判斷誰能把投資變現、誰不能。」“Investors are voting all of a sudden and all together on who will monetize the investment and who won’t,” said Brian Jacobsen, chief economic strategist at Annex Wealth Management.

這波衝擊遠遠不只限於科技股；這些股票直到最近仍乘著正面情緒走高。隨著美國公債上漲，市場呈現廣泛撤離風險的態勢。白銀下跌6%，使今年跌幅達31%；黃金下跌3.5%，使2026年跌幅達10%。The damage went well beyond technology shares that until lately have ridden positive sentiment higher, reflecting a broad pullback from risk as Treasuries rallied. Silver dropped 6%, putting it down 31% for the year, and gold fell 3.5%, putting it down 10% for 2026.

但投資人表示，近期股票多數賣壓乍看之下是「漲多必跌」的情況。But investors said most of the selling in stocks recently is at first blush a case of 'what goes up, must come down'.

韋德布希證券（Wedbush Securities）全球股票銷售與交易董事總經理薩哈克・曼努里安（Sahak Manuelian）表示：「我不認為我們面對的是特別令人擔憂的槓桿問題。整個族群已經出現如此巨大的漲幅。」"I don't think it's a particularly troublesome leverage issue that we're dealing with. We've had such a huge move up in the whole complex," said Sahak Manuelian, managing director for global equities sales and trading at Wedbush Securities.

油價上漲2%，加劇外界對美國經濟體質的疑慮；許多投資人認為，美國經濟的活力仰賴AI建設。金融股遭到重擊，高盛（Goldman Sachs）下跌4%，傑富瑞（Jefferies）下跌6%。駭客從幣安（Binance）竊走超過60億美元後，比特幣下跌3%。Oil prices rose 2%, adding to concern about the health of a US economy that many investors see as dependent on the AI buildout for its pep. Financial stocks were hit hard, with Goldman Sachs down 4% and Jefferies off 6%. Bitcoin fell 3% after hackers took more than $6 billion from Binance.

投資人面臨的一個問題是，在許多投資人選擇先行避險，而非等著看週末會發生什麼之後，新月份是否意味著重新開始。One question facing investors is whether a new month will mean a fresh start, after a day in which many investors headed for the hills rather than waiting to see what happens over the weekend.

曼努里安表示：「當走勢呈現類似拋物線的上漲時，就會造成非常猛烈的下跌。我認為這就是我們正在看到的情況。接著就會有人開始把資金撤出，轉往其他領域。」"When you've had the parabolic-like moves, it makes for a very nasty downdraft,” Manuelian said. “And I think that's what we're seeing. And then you have people that are starting to pull money out and going to other areas."

（紐約 Sinead Carew、Chuck Mikolajczak 與 Karen Brettell 報導；Colin Barr 與 David Gaffen 編輯）(Reporting by Sinead Carew, Chuck Mikolajczak and Karen Brettell in New York, editing by Colin Barr and David Gaffen)