Tech stocks plunge on Wall Street following disappointing corporate earnings reports

Global technology shares tumbled on Friday after disappointing quarterly financial results from major US firms intensified investor concerns over AI spending.

Alphabet shares plunged over 12 percent after net profit slid 25 percent to $26.2 billion, while Amazon dropped more than seven percent.

Separately, crypto exchange Binance reported a major hack with blockchain firm Chainalysis estimating stolen funds at approximately $5.912 billion.