(Updates to midafternoon trading, adds analyst comment)
* Crypto firms slide after reports that hackers stole $6.3 billion from Binance
NEW YORK, Oct 30 (Reuters) - US stocks tumbled on Friday, with the Nasdaq plunging to a three-month low following disappointing quarterly results from Intel and Amazon, which amplified growing fears surrounding AI-related companies' massive spending on the nascent technology, and concerns about when or whether the cash burn will start to pay off.
All three major US stock indexes slumped, with the Nasdaq sliding 3.4%. The tech-heavy index has dropped more than 8% from its all-time closing high reached on October 6.
The tech rout was sparked by disappointing quarterly results from Intel and Amazon released late on Thursday. The companies' shares slumped 2.1% and 30.9%, respectively.