Amazon’s projected capex dwarfs that of its peers — something that has already spooked the market

Amazon Following in foot of fellow tech giants MicrosoftAnd not in a good way. Shares of the e-commerce and cloud giant fell more than 11% in extended trading after the company reported Fourth Quarter Earnings That expectations were wrong.

However, the big blow came from Amazon’s forecast of huge capital spending – $200 billion, far higher than analysts’ estimate of $146.6 billion and expected to exceed $131 billion in 2025.

That number also dwarfs that The alphabet is projected The capex range is $175 billion to $185 billion, which has already given traders and analysts pause. The market message was clear: Investors are becoming wary of how much Big Tech is spending to chase the next phase of artificial intelligence.

A surge in capex and fears that AI is eroding the value of software companies led to a tech sell-off on Thursday. The Nasdaq Composite fell 1.59% on decline in Nvidia, the oracle And Qualcommwith others. Stocks came under further pressure High US layoffs In January. The S&P 500 fell 1.23%, putting it in the red for 2026, and the Dow Jones Industrial Average 1.2% withdrawn.

The market decline, however, is a “positive sign” for Stephen Tuckwood, investment director at Modern Wealth Management, who argued that it is “market sane at this stage rather than just irrational exuberance.”

Perhaps reflecting some of that understanding, bitcoin sank to $62,736 by 7:50 a.m. (6:50 p.m. ET) in Singapore, its lowest level since November 2024. Other cryptocurrencies such as Ether and Solana are also down this week.

Beyond markets, the focus will be on politics this weekend in Asia. Japan goes to snap elections this Sunday – the latest poll suggests Prime Minister Sane Takaichi’s Liberal Democratic Party is poised Landslide victory. Thailand will also elect its political leaders on the same day, but investors are likely to focus more on Japan because of Takaichi’s potential influence. Expansionary fiscal position on the yen and government bonds, both of which play a major role in global markets.

— CNBC’s Anne Palmer contributed to this report.

Trump will decide on the investigation of the Fed chairsUS Treasury Secretary Scott Besant said Thursday. Sen. It came in response to a question from Elizabeth Warren Trump will investigate If Fed Chair nominee Kevin Warsh doesn’t cut rates.

U.S. layoffs in January hit their highest level since the beginning of a year since 2009. Outplacement firms Challenger, Gray and Christmas reported Thursday. Employers announced 108,435 layoffs for the monthThis is an increase of 118% from the same period a year ago and 205% from December 2025.

Novo Nordisk says it will take legal action Snow and her After the telehealth provider announces it will launch a A cheap copycat version of New Vegovy weight loss pill. It will cost $49, much less than the $149 Novo charges for the branded pill.

The S&P 500 is in negative territory for 2026After the index posted losses on Thursday. Other major US indices also fell to A Sell ​​in technology stocks. Pan-European Stocks 600 Decreased by 1.05%. Bank of England And European Central Bank Rate kept unchanged.

(PRO) What to buy in this ‘software armageddon’? Wedbush analyst Dan Ives thinks Five software stacks There are still holdings during the market downturn on the sector.

Gold bulls hold firm after historic metals sell-off — but silver may fare better

Investment banks are doubling down on gold – but urging caution against going all-in on silver, as the precious metal continues to see gains after Friday’s historic sell-off.

The UBS strategist said he saw gold’s move as “general volatility in a continuing structural uptrend, rather than the end of a bull market.” In a note on Tuesday, Goldman Sachs analysts also remained bullish despite the sell-off.

“We see significant upside risk to the $5,400/toz gold forecast by December 2026,” he said.

– Chloe Taylor