Nasdaq Tumbles Over 3%, Chip Stocks Sink: Stock Market Today
Key takeaways
- Intel’s record‑low day triggered a sector‑wide sell‑off, pushing the Nasdaq and S&P 500 lower and raising market volatility.
- Intel fell 29.6%
- Intel wiped $144 billion of market value
- Intel : $15.5 billion revenue, 25 cents
guidance
What a company says it expects for future sales or profits — a forecast from the company, not a guarantee.
EPS
Earnings per share — profit for one share of the company, in dollars.
What happened
Intel Corp. (NASDAQ: INTC) fell 29.6% by midday, matching its steepest one‑day drop in July 1974 and wiping out about $144 billion of market value. The decline spread to other chipmakers—Nvidia, AMD, Broadcom, Micron and Qualcomm—collectively losing roughly $631 billion. The Nasdaq 100 slid 3.2%, the S&P 500 fell 1.6%, and the Dow dropped 0.7%. Oil prices rose on a tanker attack report, while gold and silver fell on The Federal Reserve — the US central bank that influences interest rates and money conditions.Fed
Why it matters
Intel’s sharp slide signals weakness in the data‑center chip market and raises doubts about its fourth‑quarter outlook, which fell short of analysts’ expectations. The ripple effect across the semiconductor sector dragged the Nasdaq and other tech‑heavy indices lower, increasing volatility as measured by the CBOE…
Short-term and longer-term
Short-term. Over the next few days, watch for further moves in Intel and other chip names as earnings What a company says it expects for future sales or profits — a forecast from the company, not a guarantee.guidance
Longer-term. For the coming months, the semiconductor sector’s trajectory will hinge on data‑center demand and supply‑chain recovery.
Words on this card
- CBOE Volatility Index (VIX)
- A measure of expected market volatility based on S&P 500 options
- Treasury yield
- The return investors earn on U.S. government bonds
- Semiconductor sector
- Industry that designs and manufactures integrated circuits
- Data‑center chips
- Processors used in large server farms for cloud computing
- Fed Learn
- The Federal Reserve — the US central bank that influences interest rates and money conditions.
- Guidance
- What a company says it expects for future sales or profits — a forecast from the company, not a guarantee.