Intel’s miss on the final‑quarter profit forecast added fuel to a tech‑heavy sell‑off that sent the Nasdaq composite tumbling 3.4% and the S&P 500 down 2.2% on Friday, while the Dow slipped 1.2%.
The chipmaker, which posted a stronger Q3 profit than analysts had expected, warned that its forecast for the last quarter of 2026 fell short of consensus estimates. CEO Lip‑Bu Tan said that the personal‑computer sector continues to feel pressure, a sentiment echoed by many market analysts.
Nvidia shares fell 5.3% in the day, the steepest decline among AI‑focused stocks, while Alphabet lost more than 12%—its worst day on record—after revealing higher‑than‑anticipated cash burn. Amazon slipped 2.1% following a weaker‑than‑expected summer profit, and Coinbase Global dropped 14.2% despite beating earnings estimates.
Non‑tech stocks delivered mixed results: ExxonMobil climbed 1.7% and Chevron 1.5% after stronger summer earnings, while Mondelez International and Colgate‑Palmolive gained 4.1% and 3.3% respectively, thanks to higher pricing power.
Treasury yields eased, with the 10‑year falling to 4.92% from 4.98% earlier, a sign that investors are seeking safety amid volatility. Brent crude rose to $113.50 a barrel, its highest in weeks, offsetting the yield decline.
Analysts are watching the upcoming earnings cycle closely, noting that many firms will release guidance in the next 30 days. The market is also braced for the mid‑term elections, which could inject uncertainty into the already tense environment.